4 big analyst picks: Micron has 'bottomed,' says Piper Sandler
Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at Micron Technology, FREYR Battery, Beazer Homes, and NNN REIT.
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Micron upgraded at Piper Sandler following Q3 beat
Piper Sandler upgraded Micron Technology (NASDAQ:MU) to Neutral from Underweight and raised its price target to $70.00 from $45.00 following the company’s reported better-than-expected Q3 earnings yesterday.
The analyst says it is upgrading Micron primarily based on improving end-market inventory conditions, which it says could result in improved volumes and pricing in the second half of the year. Piper expects Micron to enjoy tailwinds from the aforementioned catalysts in the near future, and believes that the stock has already hit its bottom.
Shares were recently up more than 3% in the premarket today.
FREYR Battery stock gains on Morgan Stanley upgrade
FREYR Battery (NYSE:FREY) shares surged nearly 8% pre-market today after Morgan Stanley upgraded the company to Overweight from Equalweight with a price target of $13.00, noting that the recent share price underperformance and greater transparency around execution have improved the risk/reward.
According to the firm, FREYR can show meaningful progress on commercial milestones (initial battery production and delivery of first cells to customers) that can potentially 'unlock' subsequent funding events.
2 more upgrades
Wedbush upgraded Beazer Homes (NYSE:BZH) to Outperform from Neutral and raised its price target to $32.00 from $20.00, as reported in real time on InvestingPro. Shares surged more than 10% yesterday.
Janney upgraded NNN REIT (NYSE:NNN) to Buy from Neutral with a price target of $47.00.
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