Shares of Micron Technology Inc. rose 0.5% in Wednesday morning trading after analysts at BMO Capital Markets raised their price target on the stock to $63 from $43 in a note titled “We Are Playing Catch Up.” The analysts, led by Ambrish Srivastava, now have an enhanced view of the memory-price landscape. “Memory industry fundamentals, especially for DRAM, remain strong,” Srivastava wrote, raising his estimates for Micron’s fiscal second quarter, which the company is due to report results for on Thursday afternoon. Earlier this week, Susquehanna analyst Mehdi Hosseini raised his target price to $80 from $60. Micron shares are up 38% in the past month, compared with a 0.5% gain for the S&P 500 and a 6.5% rise for the PHLX Semiconductor Index . Shares of Micron have jumped 141% over the past 12 months.
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