Morgan Stanley Maintains Underweight on Micron Technology, Raises Price Target to $71.5
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Joseph Moore has maintained an Underweight rating on Micron Technology (NASDAQ:MU) but increased the price target from $58.5 to $71.5.

November 27, 2023 | 12:58 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Morgan Stanley has maintained its Underweight rating on Micron Technology but raised its price target from $58.5 to $71.5.
While the Underweight rating suggests that Morgan Stanley analysts believe Micron Technology's stock might underperform the sector or the market, the increase in the price target could be seen as a positive adjustment to the company's valuation, reflecting potentially better-than-expected future performance or market conditions. This mixed signal may lead to a neutral short-term impact on the stock as the market digests the implications of the rating in conjunction with the raised price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100