RBC Capital raised the firm’s price target on Micron (MU) to $525 from $425 and keeps an Outperform rating on the shares. Structural memory drivers – HBM, or high-bandwidth memory, and DDR/eSSD demand in data center – are playing a much larger role in the current supercycle, and the firm sees room for multiple expansion as sustainability becomes apparent, the analyst tells investors in a research note.
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