Why Is Everyone Talking About Micron Stock?
Micron Technology's (NASDAQ: MU) stock price rallied 8% on Nov. 19 after two Wall Street analysts made bullish statements about the memory chipmaker.
Citi analyst Christopher Danely said the pricing correction in the DRAM market was "drawing to a close" as the PC and server markets stabilized and expanded. As such, he expects Micron to benefit from "more positive catalysts" in the coming months and maintains a "buy" rating with a price target of $120 -- more than 40% above its current price.
Evercore ISI analyst C.J. Muse also added Micron to his firm's "top picks" list. Muse believes Micron's earnings will start improving in its February or May quarters as it resolves its supply chain shortages, and that DRAM prices will rebound in the first or second calendar quarters of 2021. Muse maintained his "outperform" rating, with a price target of $100 for the stock.
Source Fool.com
