The investment firm reiterated the company's outperform rating and $120 price target.
The company's position in the markets is backed by a significant improvement in gross margins versus its peers since 2016, said Wedbush Analyst Matt Bryson.
The memory and storage markets are expected to grow to a $330 billion opportunity by 2030, likely supporting a high-single-sigit growth for Micron, according to the note.
Price: 72.25, Change: +4.54, Percent Change: +6.71
|Update: US Justice Department Files Lawsuit to Stop ...|
|NextPlay Unit, Triplecom Media to Collaborate in Ind...|
|Akerna Prices $10 Million Public Offering; Shares Pl...|
|Heritage-Crystal Clean Strikes Deal to Acquire Patri...|
|Muscle Maker's Pokemoto Unit Says New Franchise Deal...|