Micron Technology (MU) PT Raised to $68 at Morgan Stanley

Morgan Stanley analyst Joseph Moore raised the price target on Micron Technology (NASDAQ: MU) to $68.00 (from $63.00) while maintaining an Overweight rating.

The analyst commented, "We had expected some upside as pricing was less weak than feared, but 10% revenue upside and 50% EPS is better than we had expected. We still see February as the low point for gross margins, but at higher levels than prior ests, supporting a positive cyclical view."

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