Micron price target lowered to $98 from $114 at Morgan Stanley

Morgan Stanley analyst Joseph Moore lowered the firm’s price target on Micron (MU) to $98 from $114 and keeps an Equal Weight rating on the shares. Micron guided Q2 revenue below expectations, driven mostly by revenue decline in NAND, notes the analyst, who is lowering estimates and sees AI growth as likely to be dragged down by commodity weakness.