Micron Shares Jump 6% after Morgan Stanley Lifts Target to $100
Shares of Micron surged 6% on February 13 after Morgan Stanley maintained an Overweight rating and lifted its price target to $100. The firm cited accelerating DRAM pricing and robust data center demand as key drivers for potential further upside.
1. Morgan Stanley Upgrade
Morgan Stanley retained an Overweight rating on Micron and increased its price target to $100, reflecting confidence in the company’s ability to capitalize on improving memory market dynamics.
2. Upgrade Rationale
The firm highlighted tightening DRAM supply, a rebound in smartphone and PC demand, and strong cloud infrastructure investment as reasons for sustained margin expansion and revenue growth.
3. Market Reaction
Micron shares rose 6% in intraday trading on February 13, outperforming chip sector peers as investors positioned for a continued upcycle in semiconductor pricing.