Micron Stock Is ‘Expensive,’ Morgan Stanley Says. Why It’s Still a Buy.

Micron Technology has been among the biggest winners, rising 138% this year and 41% in September alone. The firm upgraded Micron shares to Overweight from Equal-weight and boosted its price target to $220 from $160 in a research note Monday. The stock is now ”very expensive,” said Morgan Stanley’s Joseph Moore, but demand has grown too strong to ignore.

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