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Technology Stocks : Semi Equipment Analysis
SOXX 296.74+1.8%Nov 28 4:00 PM EST
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From: Elroy2/12/2020 6:47:10 AM
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Micron Shares Jump After UBS Boosts Rating, Price Target Into 'Cyclical Upswing' For Memory Markets

Micron Technology shares jumped higher in pre-market trading Wednesday after analysts at UBS boosted their rating and price target on the chipmaker amid what it sees as a "cyclical upswing" for global memory markets. UBS analyst Timothy Arcuri lifted his price target on Micron by nearly 60%, to $75 per share, and improved his rating to "buy" from "neutral", citing "higher estimates and improving industry dynamics" for the group, particularly in markets for DRAM memory chips, which are commonly found in computers and severs. Arcuri said the DRAM upswing should last "deep into 2021" and argued that Micron is in a stronger position to benefit from the cyclical changes than some of its domestic peers.
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