Micron Tops Analyst Upgrades; Biogen Gets Boost

Micron Technology dominated Wednesday's analyst activity. The consensus target price rose to $945.60 from $911.85 — a $34 jump driven by multiple upward revisions. The chipmaker carries a $1.15 trillion market cap and just 3.3% short interest. Analysts are clearly bullish on AI-driven memory demand.

Biogen drew the sharpest individual call. Morgan Stanley's Matthew Harrison upgraded the stock to Hold and raised his target to $224 from $206. That's an 8.7% target lift. Biogen trades at roughly $29 billion market cap. Short interest sits at just 3.3% of free float. Availability is extremely high at 1,442% — meaning bears are not piling in.

Energy stocks took hits. Constellation Energy and NRG Energy both saw consensus targets trimmed. Duke Energy also had its target cut slightly to $137.83. Utility downgrades likely reflect cooling sentiment after a hot run in power stocks tied to data centre demand.

Progressive Corp faced a notable cut. B of A's Joshua Shanker slashed his target to $313 from $331, a $18 drop. He kept his Buy rating but flagged near-term valuation concerns.

Jabil bucked the trend. Its consensus target rose to $426 from $414 — a quiet but meaningful 2.8% increase.