In a research report issued this morning, Deutsche Bank analyst Sidney Ho reiterated a Buy rating on shares of Micron Technology, Inc. (NASDAQ:MU), while raising the price target to $20 (from $15), as the DRAM market shows signs of a turnaround, raising expectations for a recovery.

Ho wrote, “The DRAM market has shown 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. Amid these tailwinds, MU also seems to be executing well on its product roadmaps, driving more competitive cost structure and allowing it to regain share. This momentum is set to continue in 4Q and we believe the current supply tightness will moderate the seasonal softness for DRAM pricing in 1H17. Consequently, we raise our EPS estimates and move our PT to $20.”

As usual, we like to include the analyst’s trackrecord when reporting on new analyst notes to give a perspective on the effect it has on stock performance. According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Sidney Ho has a yearly average return of 11.2% and a 69% success rate. Ho has a -5.1% average return when recommending MU, and is ranked #299 out of 4127 analysts.

Out of the 23 analysts polled by TipRanks, 18 rate Micron stock a Buy, 3 rate the stock a Hold and 2 recommend a Sell. With a return potential of 5%, the stock’s consensus target price stands at $17.38.