Analysts hailed Micron Technology Inc.’s Q1 results and Q2 outlook by lifting their price targets on the stock. Micron reported Q1 revenue of $7.69 billion, up 33.2 percent year-on-year, above the consensus of $7.67 billion. Adjusted EPS of $2.16 beat the consensus of $2.11. Micron sees Q2 revenue of $7.3 billion–$7.7 billion above the consensus of $7.28 billion. It considers an adjusted EPS of $1.85–$2.05 above the consensus of $1.86. Summit Insights analyst Kinngai Chan upgraded to Buy from Hold. Chan contends that the downside risk of Micron’s customers buying ahead of demand is now priced into the stock. However, there is the additional risk of contract price decline in Q1 due to weaker seasonal demand. Chan sees the DRAM prices stabilize through the second half of 2022 as demand for DDRS ramps up. Baird analyst Tristan Gerra raised the PT to $90 from $70 (9.7 percent upside) and kept a Neutral. Earnings commentary and outlook confirmed …