Micron Technology (MU) PT Raised to 'Street High' $165 at Rosenblatt
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Rosenblatt analyst Hans Mosesmann raised the price target on Micron Technology (NASDAQ: MU) to a 'Street High' $165.00 (from $150.00) while maintaining a Buy rating following results.
The analyst commented, "Severe shortages driven by strong demand in virtually all markets drove Micron’s beat and raise narrative last night, with the dynamic to continue in calendar 2021 as bit demand was upped by management last night. Not a surprise to see DRAM demand as strong, but the NAND market stabilization commentary was not expected. Interestingly, DRAM ASPs were not the driver of the February quarter and are just starting to kick-in."
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