As previously reported, BofA Merrill Lynch upgraded Micron (MU) two notches, to Buy from Underperform, and raised its price target on the shares to $35. The change in view is based on expectations for a stronger turnaround at higher Average Selling Prices, versus the firm's previous assumptions based on a trough cycle. Samsung (SSNLF), which needs to maximize memory chip profit to fund a shareholder-return increase due to investor activism, has guided to low bit growth but high ASPs, the firm noted. Also, Micron's cost competitiveness using new technology looks good enough to yield gross margins of 30%-40% and a potential border tax could be a relative advantage compared to peers as Micron operates two memory fabs in the U.S., the firm added.