Wall Street Gets Bullish on Micron Ahead of Results

Investing.com – Chipmaker Micron (NASDAQ:) continued to get votes of confidence from Wall Street ahead of its earnings report tomorrow with another upgrade Tuesday.

Wedbush upgraded the stock to outperform from neutral, saying that demand trends should improve in 2020 and there should be a an improving memory chip cycle, Briefing.com reported.

Also today, Needham boosted its price target on the stock to $70 from $60 per share.

“We expect a significant rebound in NAND and DRAM prices starting in mid-2020 due to multiple catalysts, including 5G smartphones (DRAM content ~2x), a rebound in hyperscaler spending, and normalized supply/demand,” Needham said.

On Monday, Susquehanna boosted Micron (NASDAQ:) to positive from neutral.

Shares of Micron (NASDAQ:) rose 0.2% today, but are up nearly 12% in the last week.

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