Analyst Says Micron Technology Stock Now Has 20% Upside
Are Micron Technology (NASDAQ: MU) shares about to rise by nearly 20%? Analyst Sidney Ho of Deutsche Bank thinks so; he upgraded his recommendation on the stock from neutral to buy, with a $60 per share price target (the company's most recent closing level was $50.68).
Ho believes that while the market for the DRAM, or dynamic random access memory, chips that the company specializes in will hit a low in the fourth quarter of this year, a rebound is in store. In his view, recent data indicate that demand for such products has risen in both the mobile and PC server segments. This should result in price increases in Q1 of next year.
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Source Fool.com
