Micron price target raised to $450 from $380 at Needham

Needham analyst N. Quinn Bolton raised the firm’s price target on Micron (MU) to $450 from $380 and keeps a Buy rating on the shares. The firm is citing the memory market continuing to tighten and memory pricing moving meaningfully higher, the analyst tells investors in a research note. Robust hyperscaler CapEx spending, together with the trend towards larger reasoning models with longer context windows, are driving increasing demand for higher performance memory and storage, Needham adds.