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

Micron Technology, Inc. (NASDAQ:MU) is one of the 11 Best American Semiconductor Stocks to Invest In. On October 6, Morgan Stanley upgraded its rating on Micron Technology, Inc. (NASDAQ:MU) from Equalweight to Overweight and increased its price target from $160 to $220.

This decision by the firm comes as momentum in core DRAM pricing continues to surpass expectations.

Morgan Stanley’s DRAM and NAND channel checks suggest that buyers are worried about product availability throughout 2026 as there is strong demand for servers and storage solutions. The firm believes that supply may be tight for several quarters.

The firm pointed out that server memory, including DDR5 server solutions, is expected to see price increases by double digits in both the fourth quarter of 2024 and the first quarter of 2025. This means that current forecasts are likely conservative.

Despite Micron Technology, Inc. (NASDAQ:MU) performing well, Morgan Stanley believes there is room for further upside.

Micron Technology, Inc. (NASDAQ:MU) is a leading semiconductor technology company that is known for its innovative memory and storage solutions. The company offers a portfolio of high-performance DRAM, NAND, and NOR memory and storage products.

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Disclosure: None. This article is originally published at Insider Monkey.