Micron price target raised to $165 from $120 at Piper Sandler

Piper Sandler raised the firm’s price target on Micron (MU) to $165 from $120 and keeps an Overweight rating on the shares. Micron reported an impressive quarter which included guidance for the August quarter well above expectations into the print, with results driven by improved market conditions and a favorable mix shift, the analyst tells investors in a research note. Piper views Micron as an outsized beneficiary from current market trends in both data center and AI due to their HBM products and market positioning.