(Updates with the analyst's commentary.)

Wedbush raised Micron Technology's (MU) price target to $150 from $130 while maintaining its outperform rating as it believes computer memory pricing "turned more positive" in Q2 and both Dynamic Random Access Memory Not AND pricing will rise "over the next couple of quarters."

Wedbush said while its multiple is "somewhat above" its usual for "a memory vendor approaching peak cycles," the brokerage's out year gross margin assumptions for DRAM and NAND are "well below historic cyclical highs" and high bandwidth memory is changing Micron's growth and margin profile.

Micron Technology has an average rating of overweight and mean price target of $127.71, according to analysts polled by FactSet.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 122.56, Change: +0.74, Percent Change: +0.61