Analysts See Bullish Trend for Micron Stock PriceAuthor: Siraj SarwarLast Updated: April 1, 2020 Micron (NASDAQ: MU) stock price bounced back sharply after losing significant value in the final quarter of fiscal 2018. The stock price has regained upside momentum since the start of this year.Although it had reported a notable decline in financial numbers in the first half, prospects for improvement in H2 continues optimizing investor’s sentiments. Market reports and analysts have also been suggesting improving fundamentals.JP Morgan has raised Micron stock price target $to $65 from $50. JP Morgan analyst Harlan Sur is optimistic about an improved NAND pricing.Analyst Harlan Sur says, “NAND chip pricing was better than our prior expectations, and DRAM chips were relatively in-line with our expectations.” The analyst believes spending inflection in a cloud data center along with a demand from PCs, gaming, and smartphones could enhance demand for Micron products.Several other firms have raised Micron stock price target amid improving demand. Goldman Sachs increased Micron target to $59 while Longbow has upgraded Micron to Buy ratings.Longbow analyst Nikolay Todorov claims that Micron will experience high margins in the following quarters. The analyst said: “Excess inventory will be depleted faster than expected, triggering an improvement in pricing and margin ahead of current expectations.”KeyBanc has also expressed similar views. The firm believes tightening supply and improving demand is adding to the recovery of memory chip markets.KeyBanc says they are seeing early signs of recovery, driven by tightening supply and strength in NAND demand.Micron stock price currently trades around $50. This is well below from an average price target of $60 a share.The stock price also appears undervalued based on valuations. Its shares are currently trading around only 5 times to earnings, well below from the industry average of 20 times. The shares also look undervalued based on price to sales ratio of 2 and price to book ratio of 1.5. On the whole, investors are expecting a significant improvement in financial numbers in the following quarters.