NEW YORK (TheStreet) -- Micron Technology (MU) - Get Report stock is advancing by 0.61% to $12.39 in early-morning trading on Tuesday, after RW Baird upgraded shares of the semiconductor company to "outperform" from "neutral" earlier today.
The firm increased its price target to $18 from $12 on the stock.
The upgrade reflects an improving outlook for personal computers and the Chinese smartphone market as well as a positive outlook for NAND flash memory, MarketWatch reports.
"Samsung may shift meaningful capacity from DRAM to NAND this second half," RW Baird wrote in a note. "Near term, PC units are rebounding above expectation--off a dismal 1Q--while the China smartphone market is also rebounding."
Micron's gross margin should begin to stabilize before rebounding in the second half of 2016, the firm contended, MarketWatch adds.
Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.
Micron's strengths such as its reasonable valuation levels, expanding profit margins and largely solid financial position with reasonable debt levels by most measures are countered by weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.
You can view the full analysis from the report here: MU
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.