Goldman Sachs raised its price target for Micron Technology MU to $1,250 from $1,100 while keeping a Neutral rating after the memory-chip maker posted quarterly results above Wall Street expectations, according to a Thursday analyst report.

Micron reported fiscal fourth-quarter revenue of $54.23 billion and adjusted earnings of $33.42 per share. Revenue was up from $11.32 billion a year earlier, while adjusted earnings rose from $3.03 per share.

Goldman analyst James Schneider highlighted strong demand and a growing base of customer commitments. Micron now has 26 long-term agreements covering about 35% of projected revenue through fiscal 2030, with about 75% carrying structured pricing.

Schneider kept the Neutral view as the firm weighs…