Micron price target raised to $130 from $125 at Wedbush

Wedbush analyst Matt Bryson raised the firm’s price target on Micron (MU) to $130 from $125 and keeps an Outperform rating on the shares. The firm notes Micron’s revenues exceeded its prior modeled estimates, while gross margins were somewhat below its prior outlook. And the net of this upside/downside was a slight miss on earnings, but a better-than-expected earnings outlook, Wedbush adds. But far more importantly, the firm would highlight the company’s ability to roughly match prior expectations as better growth in HBM offset difficult end market conditions for commodity products.