Susquehanna sharply raises Micron price target to $1,750

Odaily Odaily reports that Susquehanna, a Wall Street quantitative trading giant, analyst Mehdi Hosseini has significantly raised the price target for Micron (MU) from $600 to $1,750, maintaining a "positive" rating. It is reported that Micron's second-quarter DRAM average selling price is expected to increase by 50%-60% quarter-over-quarter, higher than the previously market-expected 50%; NAND average selling prices are expected to remain flat to up within the 75%-100% range quarter-over-quarter. Based on increased confidence in the continued strength of storage product prices and margin sustainability, Susquehanna has raised earnings forecasts for the storage manufacturers it covers. (Seekingalpha)