Mizuho raised the firm’s price target on Micron (MU) to $155 from $150 and keeps an Outperform rating on the shares after the company raised its August-end quarter guidance for revenue, gross margin and EPS, citing “improved pricing, particularly in DRAM, and strong execution.” The firm, which sees continued strength in legacy DRAM pricing into the second half and HBM driving a five-times higher average selling price bump from traditional DRAM, would be buyers on any pullbacks as it sees the DRAM memory market being “stronger for longer.”
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