MU - Micron Stock Gets Boost From Wedbush Ahead Of Earnings: 'Destined To Cycle Higher' | Benzinga
Micron Technology Inc (NASDAQ:MU) shares are booming Tuesday after Wedbush lifted its price target on the stock ahead the company’s earnings earnings next week.
What Happened: Wedbush analyst Matt Bryson on Tuesday maintained an Outperform rating on the stock and raised his price target from $130 to $170 as the analyst anticipates a beat-and-raise quarter next week.
Bryson believes average selling prices were significantly higher than what was expected in the quarter. The analyst noted that NAND was likely up 25% quarter-over-quarter, while DRAM grew around 17%. As a result, Bryson now expects Micron to report earnings of 64 ...