Micron price target raised to $75 from $70 at Barclays

Barclays analyst Tom O’Malley raised the firm’s price target on Micron to $75 from $70 and keeps an Overweight rating on the shares post the fiscal Q3 results. The analyst sees the “first positive inflection in fundamentals” but says Cyberspace Administration of China ban has the first half of Micron’s fiscal year “bouncing along the bottom.” The situation seems fluid and even with flattish to slightly better pricing, the company is bouncing along the bottom in the first half rather than inflecting higher, the analyst tells investors in a research note.