Baird Upgrades Micron Technology (MU) to Outperform

Baird upgraded Micron Technology (NASDAQ: MU) from Neutral to Outperform with a price target of $42.00 (from $25.00).

Analyst Tristan Gerra expects the DRAM supply/demand trends continue to improve, driven by an ongoing recovery in key DRAM end-markets. "Secular improvement in supply/demand trends combined with an improving cash position should fuel both Micron’s earnings and multiple momentum over time," the analyst said.

For an analyst ratings summary and ratings history on Micron Technology click here. For more ratings news on Micron Technology click here.

Shares of Micron Technology closed at $31.17 yesterday.

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