Micron Technology (MU) Target Raised to $105 at Lynx Equity Strategies; 'Memory pricing inflects up'

Lynx Equity Strategies analyst KC Rajkumar and Jahanara Nissar raised their price target on Micron Technology (NASDAQ: MU) to $105 from $67, noting memory pricing inflects up.

"Our checks into the channel shows that the Street is likely in for a positive surprise at the upcoming MU earnings event," the analyst commented. "We are shedding our negative stance on MU we have had since May, reaffirmed by target price cuts in July and September. Into the upcoming earnings call, we are re-entering a positive stance on MU. DRAM prices within the distributor network may have already turned upwards in a meaningful way."

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