Why Micron Shares Are Ripping Higher Today

Micron Technology Inc MU shares are trading higher Wednesday following bullish analyst coverage from Bernstein.

Bernstein analyst Mark Li upgraded Micron from a Market Perform rating to an Outperform rating and announced a $94 price target.

After supply issues in the semiconductor space, specifically the computer chip space, are resolved, Li expects Micron to be a beneficiary. The Berstein analyst expects outsized gains for Micron shareholders as soon as later this year. 

Micron designs and manufactures storage solutions and dynamic random-access memory for PCs and servers. 

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MU 52-Week Range: $65.67 - $98.45

Micron Shares were up 7.73% at $78.77 at time of publication.

Photo: courtesy of Micron.