Micron Stock Gets Dual Price Target Hikes From Deutsche, UBS Ahead Of Earnings
Synopsis
Deutsche Bank noted that the tight DRAM supply, partly due to high-bandwidth memory consuming a significant portion of available capacity, will likely lift prices and support improved margins.
Micron Technology Inc. (MU) has received price target hikes from two major firms, signaling growing confidence in the memory chipmaker ahead of its upcoming fourth-quarter (Q4) earnings report on September 23.
Deutsche Bank increased its price forecast for Micron shares to $175 from $155, maintaining a ‘Buy’ rating, as per TheFly. The firm believes that the tight DRAM supply, partly due to high-bandwidth memory consuming a large portion of available capacity, will drive prices higher and support improved margins.
UBS lifted its target to $185 from $155, also reaffirming a ‘Buy’ rating. Micron stock inched 0.04% higher in Monday’s premarket.
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