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Micron Gets an Upgrade Ahead of Earnings. The Demand Picture Is Improving.

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Deutsche analyst Sidney Ho upgrades shares of Micron to Buy from Hold.

Micron Technology stock was rising Monday after a Deutsche Bank analyst upgraded the stock on recent improvement in demand.

“While our previous neutral stance on MU was driven by the levels of excess inventory in the supply chain and weak macro end-demand, we now see the worst of the downcycle as behind us, given aggressive production cuts by all suppliers, as well as pockets of demand strength particularly in AI servers,” Ho wrote in a research note.

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