Micron Technology Stock Gains After Receiving Big Analyst Upgrades
Shares of Micron Technology (NASDAQ: MU) headed higher on Tuesday, after receiving not one, not two, but three analyst upgrades before the market opened. Common reasons for the upgrades include an improving semiconductor market and Micron's inexpensive shares, leading to hiked price targets across the board. Investors love these votes of confidence. Consequently, Micron stock was up 4% as of 1:20 p.m. EST.
According to The Fly, Mitch Steves of RBC Capital maintains the belief that Micron stock can outperform the market and is upping the stock's price target from $57 per share to $83 per share. Deutsche Bank analyst Sidney Ho is just a tad bit more bullish than Steves, giving Micron stock an $85 per-share price target, citing upcoming improvement in prices and sales volume for the memory products Micron sells.
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Source Fool.com
