Benzinga | Nov 23, 2021 07:14AM EST

Mizuho Turns Bullish On Micron Technology

* Mizuho analyst Vijay Rakesh upgraded Micron Technology Inc (NASDAQ:MU) to Buy from Neutral with a price target of $95, up from $75, implying a 13.3% upside.

* Recent checks indicate demand is improving across the PC, server, and handset markets, Rakesh notes.

* The analyst believes server demand could improve in Q1 of 2022 with Amazon.com Inc (NASDAQ:AMZN) and Alphabet Inc (NASDAQ:GOOG) (NASDAQ; GOOGL) Google orders returning despite less than ten weeks of DRAM inventory.

* He sees improving demand trends and a "tailwind" for memory.

* Price Action: MU shares traded higher by 1.11% at $84.79 in the premarket session on the last check Tuesday.