Is Micron Technology Stock Really Headed to $56?
Micron Technology (NASDAQ: MU) investors are living the good old days once again, as the stock has been on a tear over the past month, surging by 45%.
The memory specialist has managed to achieve terrific turnaround thanks to its fiscal third-quarter earnings report, which wasn't as bad as Wall Street feared. Micron also called for an improvement in memory demand later in the year, and all of these positives have combined to change the sentiment around the stock.
Goldman Sachs is the latest to join the chorus of bulls expecting Micron to go higher. Analyst Mark Delaney has upgraded the stock to buy from neutral, raising his price target to $56 from $40. However, his reasoning doesn't sound very convincing.
Quelle Fool.com
