Barclays analyst Tom O\'Malley raised the price target on Micron Technology (NASDAQ: MU) to $195.00 (from $175.00) while maintaining a Overweight rating.

The analyst comments: "More aggressive HBM commentary coupled with eSSD price increases drive near-term fundamentals higher. Checked boxes on major investor focus points, including a slightly more aggressive DRAM and HBM outlook, better margins, and better end market outlooks in traditional server/PC/Auto. Capex also moves higher from >$13B in FY25 to >$18B in FY26E largely as a function of DRAM capacity increases (LRCX should continue to outperform vs KLAC, AMAT). NAND pricing is also a tailwind in the near-term driven by HDD shortages, although the company is clear this is a structurally different market vs. DRAM and bits are down both this Q and in the guide. Samsung qualification would drastically change the industry dynamic but we have no evidence at this point that qualification is happening. Multiple industry dynamics are leaning more positive in the near term."