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Micron Technology (MU) Stock Price Target Raised at UBS

NEW YORK (TheStreet) -- Micron Technology (MU) said at the Citi tech conference in New York yesterday that it now expects fiscal 2016 fourth quarter revenue to fall in the higher end of its projected range between $2.9 billion and $3.2 billion.

UBS increased its price target on shares of the Boise, ID-based memory chip maker to $20 from $17 on Friday following the comments. The firm also reiterated a "buy" rating on Micron stock, according to a note cited by Barron's.

The firm said that Micron's targets are "achievable."

"We believe Micron can successfully...