NEW YORK (TheStreet) -- Shares of Micron Technology (MU) - Get Report were climbing in early-afternoon trading on Monday after Deutsche Bank and Stifel raised their price targets on the stock after HP (HPQ) said on its 2016 third-quarter earnings conference call that there will likely be shortages around LCDs, DRAM and flash memory.
Micron's portfolio includes DRAM and NAND components that are the basis for solid-state drives, modules, multi-chip packages and other system solutions.
Deutsche Bank raised its price target on the stock to $20 from $15, noting that the DRAM market has demonstrated an "encouraging turnaround in the past two months, driven by the combination of disciplined industry capex, product mix optimization and stronger-than-expected PC/smartphone demand."
The firm added that Micron has been "executing well" on its product roadmaps, driving a more competitive cost structure and helping it regain share.
Stifelsimilarly increased its price target on shares, to $18 from $15, as memory sector prices track above the firm's estimates, TheFly reports.
Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.
Micron's strengths such as its increase in stock price during the past year, largely solid financial position with reasonable debt levels by most measures and expanding profit margins 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.