Micron continues rally following bullish Drexel Hamilton note

|About: Micron Technology Inc. (MU)|By:, SA News Editor

Drexel Hamilton's Richard Whittington has upped his Micron (MU +3.1%) PT all the way to $50 from $30. He expects DRAM prices to keep rising this year and next thanks to a favorable supply/demand balance, and expects DRAM margins to eventually hit 50%.

Micron had a Feb. quarter gross margin (covers both DRAM and NAND flash sales) of 34%. Shares rallied on Thursday following SanDisk's Q1 beat and margin guidance hike, and are once more close to a 52-week high of $25.68.