- Mizuho analyst Vijay Rakesh upgraded Micron Technology Inc MU to Buy from Neutral with a price target of $95, up from $75, implying a 13.3% upside.
- Recent checks indicate demand is improving across the PC, server, and handset markets, Rakesh notes.
- The analyst believes server demand could improve in Q1 of 2022 with Amazon.com Inc AMZN and Alphabet Inc GOOG (NASDAQ; GOOGL) Google orders returning despite less than ten weeks of DRAM inventory.
- He sees improving demand trends and a "tailwind" for memory.
- Price Action: MU shares traded higher by 1.11% at $84.79 in the premarket session on the last check Tuesday.
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