Why Citi Thinks Micron Stock Is Headed to $150 After Earnings Beat

Micron Technology (MU), a leading American semiconductor company, is gradually emerging as a key player in the high-stakes world of semiconductors. Recently, Micron reported solid fiscal third quarter results. 

Consequently, a Citi analyst raised the price target for the stock to $150 from $130, which reflects upside potential of 23.2% from current levels. Micron stock is up 45.6% year-to-date, wildly outperforming the broader market index.