Piper Jaffray analyst Harsh Kumar raised his price target for Micron Technology to $40 from $36 but reiterates a Neutral rating on the shares following last night's fiscal Q2 results. The analyst sees sustained pressure on average selling prices for DRAM and NAND, which he expects to continue through the back half of the year. With the pricing pressure driven by oversupply in the market, the analyst continues to see additional gross margin pressure as well. Kumar views Micron shares as "fully valued due to the continued margin headwinds throughout the year." As such, he remains on the sidelines.

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