BUZZ-Stifel raises PT on Micron by 54% amid cloud memory optimism

Reuters12-12 22:04
BUZZ-<a href="https://laohu8.com/S/SFB">Stifel</a> raises PT on Micron by 54% amid cloud memory optimism

** Brokerage Stifel raises PT on Micron Technology MU.O to $300 from $195

** Stifel expects MU to report and guide for meaningful upside to its Q1 results and Q2 outlook

** Brokerage says suppliers are focusing on supporting high-value cloud memory products/customers, while restoring more profitable storage pricing for smartphone and PC products

** Stifel says that MU can grow memory capacity, but its ability to earn more revenue per bit is of particular importance

** 39 of 46 brokerages covering the stock recommend "buy" or higher, 6 recommend "hold," while 1 recommends sell; stock has a median PT of $240 - LSEG-compiled data

** Up to last close, MU had more than tripled YTD

(Reporting by Arnav Mishra in Bengaluru)

((Arnav.Mishra@thomsonreuters.com;))

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