What's Going On With Micron Stock Monday?

Micron Technology Inc MU shares are trading higher Monday after multiple analysts lifted price targets on the stock ahead of earnings.

What To Know: Cantor Fitzgerald analyst CJ Muse on Monday maintained Micron with an Overweight rating and raised the price target from $100 to $120. Barclays analyst Tom O’Malley also maintained Micron with an Overweight rating and raised the price target from $95 to $120. Rosenblatt analyst Hans Mosesmann reiterated Micron with a Buy rating and maintained a price target of $140.

Several other analysts have raised price targets in recent weeks leading up to Micron’s second-quarter earnings report, which is due after the market close on Wednesday. Analysts are anticipating an earnings loss of 26 cents per share on quarterly revenue of $5.33 billion, according to Benzinga Pro.

See Also: Apple Is Sending Alphabet Stock Higher Monday: What’s Going On?

Is MU A Good Stock To Buy?

Wall Street analysts view Micron on the whole as an Outperform, given the history of coverage over the past three months. Christopher Danely from Citigroup in Micron Technology is the most optimistic, expecting a 57.89% rise in the stock in the coming year.

But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past three months, Micron rose 19.14%, which indicates that opinion improved on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 15.69% over the past year.

A complete overview of how Wall Street views individual stocks is available here, while real time updates on the latest analyst actions will be delivered via Benzinga PRO. Try it for free.

MU Price Action: Micron shares were up 2.65% at $95.72 at the time of writing, according to Benzinga Pro.

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