Micron Jumps 4.9% as KeyBanc Upgrades to $1,750 Target, Sees 87% Upside

MU4.86%
According to Barron's, Micron Technology stock rose 4.9% to $983.12 on Tuesday, July 14, after KeyBanc analyst John Vinh upgraded the company's price target to $1,750 from $1,600. The new target, based on a visit to the supply chain in Asia, implies approximately 87% upside potential from Monday's closing price of $937. Vinh cited sustained memory shortages and predicted DRAM prices will rise 15-20% in the third quarter, with NAND flash memory prices potentially climbing 30-40% over the same period.
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