Micron Technology Stock Has 21% Upside, According to 1 Wall Street Analyst
Shares of Micron Technology (NASDAQ: MU), a leader in memory and storage for PCs and servers, are up 74% over the last 12 months, but one analyst sees more upside in the near term.
Stifel analyst Brian Chin recently upgraded the stock to a buy rating and also raised the price target to $120, representing 21% upside over the current share price of $99.
As data centers make necessary component upgrades to support artificial intelligence (AI) requirements, it increases the need for high-bandwidth memory, and this is reflected in Micron's latest financial results.
Source Fool.com