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Piper Sandler upgraded Micron Technology (NASDAQ:MU) to Neutral from Underweight and raised its price target to $70.00 from $45.00 following the company’s reported better-than-expected Q3 earnings yesterday. As a result, shares gained more than 3% pre-market today.
According to the firm, the upgrade is primarily based on improving end-market inventory conditions, potentially resulting in improved volumes and pricing in the second half of the year. The firm believes that the stock has already reached its bottom, and expects Micron to experience tailwinds from the aforementioned catalysts in the near future.
FREYR Battery (NYSE:FREY) shares surged nearly 8% pre-market today after Morgan Stanley upgraded the company to Overweight from Equalweight with a price target of $13.00, noting that the recent share price underperformance and greater transparency around execution have improved the risk/reward.
According to the firm, FREYR can show meaningful progress on commercial milestones (initial battery production and delivery of first cells to customers) that can potentially ‘unlock’ subsequent funding events.
Wedbush upgraded Beazer Homes (NYSE:BZH) to Outperform from Neutral and raised its price target to $32.00 from $20.00, as reported in real time on InvestingPro. Shares surged more than 10% yesterday.
Janney upgraded NNN REIT (NYSE:NNN) to Buy from Neutral with a price target of $47.00.
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