US stock markets: Micron Technology shares climb 4% after Morgan Stanley upgrade

May 20, 2024

1 min read 20 May 2024, 10:18 PM IST Trade Now

At 12:37 p.m. ED, Micron Technology stock was trading higher 3.25 per cent, or $4.07, at $129.36

Bloomberg (Bloomberg) — Bloomberg **(Bloomberg)**

Micron Technology shares climbed 4 per cent in morning session on Monday after Morgan Stanley upgraded the memory chipmaker to “equal-weight” from “underweight”.

At 12:37 p.m. ED, Micron Technology stock was trading higher 3.25 per cent, or $4.07, at $129.36.

Morgan Stanley also raised the price target for Micron shares to $130.00 from a previous target of $98.00.

It also predicted that the chipmaker could announce positive earnings this quarter due to the ongoing ramp-up phase of high-bandwidth memory (HBM) supply.

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Published: 20 May 2024, 10:18 PM IST