Morgan Stanley Upgrades Micron (MU) to Overweight, Lifts PT to $220

Core Insights - Micron Technology, Inc. has been identified as one of the best performing NASDAQ stocks by hedge funds, with Morgan Stanley raising its price target from $160 to $220 and upgrading its rating to Overweight due to strong momentum in DRAM pricing [1][2] Group 1: Price Target and Rating Upgrade - Morgan Stanley upgraded Micron's stock rating to Overweight from Equalweight and increased the price target to $220, citing better-than-expected DRAM pricing momentum [1][2] - The firm noted that DRAM supply is expected to remain tight for several quarters, with DDR5 spot pricing increasing by 15% since Micron's last guidance [2] Group 2: Market Expectations - Server memory, particularly DDR5 server pricing, is anticipated to see double-digit increases in both Q4 and Q1, with Morgan Stanley considering current consensus estimates to be "likely conservative" [2] - Micron's operations are divided into four segments: Compute and Networking, Mobile, Embedded, and Storage, with a product portfolio that includes DRAM, NAND flash, and NOR flash technologies [2]