Facebook, Micron, Marvell Technology Upgraded

Analysts are weighing in on FANG stock Facebook Inc (NASDAQ:FB), as well as chip experts Micron Technology, Inc. (NASDAQ:MU) and Marvell Technology Group Ltd. (NASDAQ:MRVL). Here's a roundup of today's bullish brokerage notes on FB, MU, and MRVL shares.

Facebook Stock Named Top Pick at Citigroup

Even with all the hype around the Snap Inc (NYSE:SNAP) IPO, FB shares have continued to climb, touching record highs in the past two sessions, before closing Thursday at $136.76 -- up 24% year-over-year. Now, Citigroup has named the stock its top pick, and maintained its price target of $165, well above yesterday's all-time peak at $137.82, citing a favorable risk/reward backdrop. Options traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have also been targeting higher highs for Facebook Inc. The shares have a 10-day call/put volume ratio of 2.00 across the exchanges, which ranks in the 83rd annual percentile. 

Analysts Expect Micron Shares to Hit Higher Highs

For the second time this week, Goldman Sachs raised its outlook on MU shares, lifting its price target to $30 from the $29 price target they set on Wednesday. Needham and Deutsche Bank also weighed in, increasing their respective price targets to $42 and $30, after the company raised its revenue forecast for its fiscal second-quarter earnings release, currently scheduled for the evening of Thursday, March 23. Micron Technology, Inc. -- which has more than doubled over the past 12 months -- hit an annual high of $25.31 in early February, and closed last night at $24.70. Not surprisingly, 15 of 18 analysts say to buy MU shares, while there are zero "sell" ratings on the books.  

Marvell Technology Shares Set for Post-Earnings Rally

MRVL has also been a red-hot semiconductor name, gaining 60% year-over-year, as of last night's close at $15.85. The stock is up another 3.2% ahead of the open -- and could take out its Feb. 23 annual high of $16.30 -- after the company's strong fourth-quarter earnings report and upbeat guidance. B. Riley was one of at least seven brokerage firms to raise its price target, eyeing a move up to $21, six-year-high territory, while Susquehanna said "For the first time in a long time, Marvell's management team hinted at a long-term growth story." Marvell Technology Group Ltd. could continue to rise as bearish analysts begin to come around, since half of the firms covering the outperforming stock rate it a "hold" or "sell."