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Morgan Stanley raises Micron Technology's target price to $1200 and maintains its overweight rating

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Morgan Stanley has raised its target price for Micron Technology from $1050 to $1200, maintaining its overweight rating. Morgan Stanley has raised its earnings per share forecast for fiscal year 2027 by approximately 40% to $168 per share, and its free cash flow forecast has been increased from $104 billion to $140 billion. Morgan Stanley believes that AI will continue to significantly exceed DRAM demand after 2027, and Micron Technology's performance in the last quarter is in line with this trend.

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