Micron initiated with an Outperform at CLSA

CLSA initiated coverage of Micron (MU) with an Outperform rating and $155 price target The firm believes the company is positioned well to benefit from demand for high bandwidth memory and a “healthy” DRAM demand/supply balance. The supply of conventional DRAM will remain constrained due a focus by suppliers on high bandwidth memory, the analyst tells investors in a research note.