Barclays Hikes Micron (MU) Price Target to $240 on Select AI Exposure, Maintains ‘Overweight’.Barclays Hikes Micron PT to $240 on Select AI Exposure, Maintains Overweight Rating

Micron Technology Inc. (NASDAQ:MU) is one of the best NASDAQ growth stocks to buy for the next 5 years. On October 20, Barclays analyst Tom O’Malley raised the firm’s price target on Micron to $240 from $195 and maintained an Overweight rating on the shares. Barclays is very selective when choosing companies that have direct exposure to AI due to recent stock price increases. O’Malley believes that many of these stocks are already pricing in the full benefit of future AI deployment.

Earlier on October 17, Mizuho also raised the price target on Micron to $240 from $195 with an Outperform rating, while raising price targets in the storage group as the AI demand continues to accelerate due to expanding multimodal models and longer context windows.

On October 16, UBS analyst Timothy Arcuri also raised the price target on the company to $245 from $225 and kept a Buy rating on the shares under similar reasons as Mizuho.

Micron Technology Inc. (NASDAQ:MU) designs, develops, manufactures, and sells memory and storage products in the United States, Taiwan, Singapore, Japan, Malaysia, China, India, and internationally.

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Disclosure: None. This article is originally published at Insider Monkey.