Micron upgraded to Outperform from Underperform at BNP Paribas Exane

BNP Paribas Exane analyst Karl Ackerman double upgraded Micron (MU) to Outperform from Underperform with a price target of $270, up from $100. The firm now “fully embraces” high-bandwidth memory as a sustainable, separate growth vector and believes Micron and the market are in the “early innings of a memory supercycle,” the analyst tells investors.