US stock markets: Micron Technology shares climb 4% after Morgan Stanley upgrade
Micron Technology shares climbed 4 per cent in morning session on Monday after Morgan Stanley upgraded the memory chipmaker to “equal-weight” from “underweight”.
At 12:37 p.m. ED, Micron Technology stock was trading higher 3.25 per cent, or $4.07, at $129.36.
Morgan Stanley also raised the price target for Micron shares to $130.00 from a previous target of $98.00.
It also predicted that the chipmaker could announce positive earnings this quarter due to the ongoing ramp-up phase of high-bandwidth memory (HBM) supply.
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Published: 20 May 2024, 10:18 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.