DA Davidson raised the firm's price target on Micron (MU) to $1,500 from $1,000 and keeps a Buy rating on the shares. After comparing the CPU and memory markets across commodity nature, changes in value, lessons from previous cycle and competition, the analyst asks: "why do AMD and INTC trade at over 40x while MU is trading at 9x even after a big run?" Competition "may be where the advantage is most clearly for memory, contrary to conventional wisdom," the analyst tells investors. Micron, SK Hynix and Samsung have "almost the entire DRAM/HBM market and we are not aware of any competition coming," the analyst added.
