Micron price target raised to $200 from $150 at Wolfe Research

Wolfe Research analyst Chris Caso raised the firm’s price target on Micron to $200 from $150 and keeps an Outperform rating on the shares. The firm is raising estimates on Micron heading into next week’s quarterly report on stronger industry conditions and optimism regarding HBM. Wolfe added that near-term conditions are not the reason for the bullish view, but rather the company’s earnings per share power longer-term, seeing a plausible case to $20 EPS.