Micron upgraded to Buy from Sell at Citi - InvestingChannel

Micron upgraded to Buy from Sell at Citi

Citi analyst Christopher Danely double upgraded Micron Technology to Buy from Sell with a price target of $100, up from $35. The “long-awaited upturn” in DRAM is about to materialize, which should drive upside to Micron earnings and the stock, Danely tells investors in a research note. Micron shares still have “plenty of upside” as DRAM upturns usually last two years and supply/demand looks favorable over at least the next year, says the analyst. Danely expects DRAM pricing to sustain its upward trajectory beginning in Q1, “given the largest supply/demand imbalance since 2017.”