Micron sees bullish views at RBC on 'memory super-cycle'

RBC Capital Markets raised its Micron (MU) price target to $525 from $425 and kept an Outperform rating, citing a 'memory super-cycle'. The firm said it is raising estimates significantly on continued pricing, and Micron shares jumped about 5% on the news. This reflects materially stronger demand/pricing in memory and supports a more bullish earnings trajectory for MU.

Analysis

RBC Capital Markets raised its Micron (MU) price target to $525 from $425 and kept an Outperform rating, citing a 'memory super-cycle'. The firm said it is raising estimates significantly on continued pricing, and Micron shares jumped about 5% on the news. This reflects materially stronger demand/pricing in memory and supports a more bullish earnings trajectory for MU.