Deutsche ups Micron price target ahead of earnings report

Deutsche Bank raised the firm’s price target on Micron (MU) to $280 from $200 and keeps a Buy rating on the shares ahead of the fiscal Q1 report on December 17. Micron is well positioned to benefit from the upcoming memory cycle, the analyst tells investors in a research note. The firm believes high bandwidth memory is driving structural changes in the industry that could warrant a higher valuation for the shares. Deutsche sees Micron as “being particularly attractive among the memory names given its unique ability to prioritize profitability over market share in this environment.”