UPDATE: Stifel Nicolaus Raises PT on Micron Technology Following FQ213 Review

In a report published Friday, Stifel Nicolaus analyst Kevin Cassidy reiterated a Buy rating on Micron Technology MU, and slightly raised the price target from $13.00 to $14.00. In the report, Cassidy noted, “Micron's gross margins improved 600 bps sequentially as DRAM and NAND Flash capacity worldwide remained roughly in-line with demand. Micron also benefited from purchasing more capacity from its DRAM joint venture, Inotera and increasing demand for NAND Flash based solid state drives. Management's outlook for the May quarter suggests further top line growth and improvements to gross margins. We continue recommending that investors Buy MU shares.” Micron Technology closed on Thursday at $9.07.