UPDATE: Baird Upgrades Micron Technology (MU) to Neutral

(updating comment)

Baird analyst Tristan Gerra upgraded Micron Technology (NASDAQ: MU) from Underperform to Neutral with a price target of $55.00 (from $45.00).

The analyst comments "DRAM/NAND flash pricing positive outlooks remain unchanged despite current demand weakness in China, as supply chain is holding onto inventories in the face of supply disruptions and PCB DRAM module shortages. We expect memory pricing to remain very resilient throughout this year. Server demand remains strong. Seagate upgrade is predicated on share gains and gross margin improvements in C2H even as current demand disruptions for HDDs in the China market could weight on the quarter."

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 $52.56 yesterday.

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