Micron: Wells Fargo raises target price

(CercleFinance.com) - Wells Fargo reiterates its 'overweight' rating on Micron Technology shares, with a target price raised from $82 to $95, the day after the semiconductor manufacturer Q2 earnings call.


The broker takes a positive view of management's comments on outlook and pricing, as well as its confidence in HBM3. Its new target price is based on around 12x its EPS estimate of $8 or more over the cycle.


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