Micron price target raised to $135 from $115 at TD Cowen

TD Cowen raised the firm’s price target on Micron to $135 from $115 and keeps a Buy rating on the shares. The firm said despite continued inventory builds at PC/smartphone customers and end-demand softness, the expected mid-cycle in memory spanning between now and CQ2:25 seems to be shallower than feared as the strength from datacenter customers continues.