Stifel raised the firm’s price target on Micron (MU) to $145 from $130 and keeps a Buy rating on the shares after Micron’s fiscal Q3 results and fiscal Q4 outlook were well above the firm’s and consensus estimates. Though the strength in Q3 bit shipments reflects some pull-ins, management views the impact as modest, notes the analyst, who raised estimates given the firm’s views for broader pricing to trend higher into September and for mix to remain a tailwind into year-end.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MU:
- Micron price target raised to $140 from $95 at Barclays
- Micron price target raised to $160 from $135 at KeyBanc
- Micron’s Mixed Outlook: Positive Developments Amidst Uncertainties Justify Hold Rating
- Micron’s Strategic Positioning and Innovations Drive Buy Rating Amid AI-Driven Market Growth
- Micron Technology Reports Record Revenue Growth