Shares of memory chipmaker Micron Technology, Inc. received a bullish recommendation from Wedbush on Monday.
The Micron Analyst
Matt Bryson upgraded Micron shares from Neutral to Outperform and increased the price target from $100 to $120.The Micron Takeaways
Wedbush’s optimism on Micron is predicated on upgraded NAND expectations, faster semiconductor content growth forecast, increased confidence in DRAM industry stability and multiple expansion opportunity, Bryson said in a note.Wedbush’s NAND pricing estimates are being lifted by $1 for 2023 to account for increased optimism as well as likely benefits stemming from the disruptions at Japan fabs of Kioxia and Western Digital Corporation, the analyst said.
