Micron upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded Micron (MU) to Overweight from Equal Weight with a price target of $220, up from $160. The company will see multiple quarters of double-digit price increases, which can drive “substantially higher earnings power,” the analyst tells investors in a research note. The firm believes this will alleviate any lingering questions on specialty high bandwidth memory for artificial intelligence. Morgan Stanley’s DRAM and NAND channel checks continue to inflect positively, with buyers “showing anxiety” about availability through all of 2026 amid strong server and storage demand. It believes Micron will see multiple quarters of upward earnings revisions.