Citi analyst Christopher Danely reiterated a Buy rating and $85.00 price target on Micron Technology (NASDAQ: MU).

The analyst commented: "TrendForce raised their 4Q23 DRAM price forecast from 0% QoQ to up 3%-8% sequentially, driven by Samsung’s production cuts. They expect more upside ahead, with DRAM pricing forecasted to rise 0-5% sequentially in 1Q24. We believe this is just the beginning of the DRAM upturn, and it reinforces our view that the DRAM upturn has started."

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 $69.96 yesterday.