Why Micron Technology Stock Rallied on Monday Morning
Shares of Micron Technology (NASDAQ: MU) popped on Monday morning, jumping by as much as 5%. As of 11:36 a.m. ET, the rally had faded somewhat, though the stock was still up 1.2%.
The catalyst that sent the memory and storage chipmaker higher was a vote of confidence from a Wall Street analyst.
KeyBanc analyst John Vinh maintained his overweight (buy) rating on the stock while increasing his price target to $150 from its previous level of $135. That suggests potential upside of roughly 21% compared to Friday's closing price, on top of the stock's 115% gains over the past year.
Source Fool.com
Micron Technology Inc. Stock
€119.36
2.050%
Currently there is a rather positive sentiment for Micron Technology Inc. with 74 Buy predictions and 5 Sell predictions.
On the other hand, the target price of 119 € is below the current price of 119.36 € for Micron Technology Inc., so the potential is actually -0.3%.
