Shares of Micron Technology (NASDAQ: MU) popped on Tuesday, jumping as much as 6.2%.
ET, the stock was still up 3.6%. The catalyst that sent the semiconductor specialist higher was some bullish commentary from Wall Street. Big price target boost Micron stock has been firmly in rally mode, gaining 675% over the past year, thanks to unrelenting demand for its memory and storage chips.
Many on Wall Street believe there’s still upside ahead. KeyBanc analyst John Vinh raised his price target on Micron to $1,750 while maintaining an overweight (buy) rating on the shares. For those keeping score at home, that represents potential upside of 87% compared to Monday’s closing price.