What's Going On With Micron Stock Monday?
Portfolio Pulse from Adam Eckert
Micron Technology Inc (NASDAQ:MU) shares are trading higher after multiple analysts increased their price targets on the stock ahead of its earnings report. Cantor Fitzgerald, Barclays, and Rosenblatt have all raised their price targets, with expectations of an earnings loss of 26 cents per share on quarterly revenue of $5.33 billion. Wall Street analysts overall rate Micron as an Outperform, with Citigroup's Christopher Danely being the most optimistic, expecting a 57.89% rise in the stock in the coming year. Micron shares were up 2.65% at $95.72 at the time of writing.
March 18, 2024 | 2:06 pm
News sentiment analysis
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POSITIVE IMPACT
Micron Technology Inc's stock is positively impacted by multiple analysts raising their price targets ahead of its earnings report, indicating a bullish outlook.
The increase in price targets by several analysts ahead of Micron's earnings report suggests a strong bullish sentiment towards the stock. This, combined with the overall Outperform rating from Wall Street and the optimistic projection by Citigroup's Christopher Danely, contributes to a positive short-term outlook for Micron's stock. The recent 19.14% rise in the past three months further supports this positive sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100