Morgan Stanley Maintains Underweight on Micron Technology, Raises Price Target to $74.75
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 $71.50 to $74.75.
December 21, 2023 | 12:21 pm
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Morgan Stanley's analyst has reaffirmed an Underweight rating on Micron Technology but raised the price target, indicating a slightly more positive outlook on the stock's value.
While the increase in price target suggests a more favorable view of Micron Technology's stock value, the Underweight rating still implies that the analyst believes the stock may underperform the sector or the overall market. The impact on the stock price is likely to be neutral in the short term as the upgrade in price target could be offset by the reaffirmation of the Underweight rating.
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