Micron Technology Stock Rises on Wedbush Bull Note

Over the last six months, MU has added more than 29%

Digital Content Manager
Feb 14, 2022 at 10:37 AM
facebook X logo linkedin

Micron Technology, Inc. (NASDAQ:MU) is up 2.5% at $91.97 at last check, after Wedbush upgraded the stock to "outperform" from "neutral," and raised its price target to $120 from $100. The brokerage said fast growth in semiconductor content should translate into greater memory requirements over the next few years, boosting sales. The analyst in coverage also noted Micron Technology is poised to benefit from Western Digital's (WDC) plant disruptions in Japan, and that investors appreciate its growth prospects.

Analysts were already overwhelmingly bullish towards MU coming into today, with 15 of the 19 in question calling the security a "strong buy." Plus, the 12-month consensus price target of $110.03 is a 20.4% premium to current levels. 

Digging deeper, Micron Technology stock is bouncing off a floor at the $80 area, after gapping to the $75 level in January. Overhead pressure at the $94 mark has kept these recent gains in check, but the equity is now pacing for its third-straight close above the 40-day moving average, after overcoming this trendline last week. Over the last six months, MU added 29.5%.




Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI