Micron Technology Stock Jumps on Price Target Increase From Citi
Key Takeaways
- Citi analysts raised their price target on Micron Technology to $175 from $150 and reiterated their “buy” rating.
- The analysts said the change was based on rising demand for DRAM semiconductors and Micron’s artificial intelligence products.
- Citi expects Micron to give a better-than-expected outlook when it reports earnings later this month.
Shares of Micron Technology (MU) surged roughly 8% Thursday when Citi analysts boosted their price target, pointing to an increase in demand for dynamic random-access memory (DRAM) chips and the company’s artificial intelligence exposure.
The analysts raised Micron’s price target to $175 from the previous $150 and affirmed their “buy” rating on the stock.
In a note to…
