Rosenblatt boosts Micron's PT amid surge in memory demand

Memory chipmaker Micron Technology's MU.O stock up about 0.8% at $248.89 in afternoon trading

Rosenblatt raises price target for Idaho-based firm to $300 from $250, citing tightening of supply for its Dynamic Random Access Memory nodes

Brokerage also increases its estimates, says company is well-positioned to capitalize on rising memory prices

"We continue recommending the MU shares while industry DRAM and NAND Flash supply growth is constrained," Rosenblatt says

40 of 45 analysts rate stock "buy" or higher and four "hold" and one "sell"; median PT is $200 - data compiled by LSEG

Including session's moves, MU stock is up ~195.6% YTD