Shares of Micron Technology Inc. are up 2.1% in premarket trading and on track to open at a 17 1/2 year high. Tuesday after analysts at Goldman Sachs raised their price target and quarterly estimates due to their belief that DRAM pricing continues to rise. The analysts, led by Mark Delaney, think that Micron looks well positioned heading into its March 22 earnings report given that DRAM supply appears constrained, which is expected to drive up average selling prices further. They wrote that 32 GB server modules are selling for about $310 to $315 now, up from $300 in mid-January. The team at Goldman Sachs raised their price target to $58 from $55 and have a buy rating on the stock. Micron shares are up 102% over the past 12 months, while the S&P 500 Index is up 15% and the Philadelphia Semiconductor Index is up 41%.
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