US Top Rating Updates on 10/14: MU, DAL, APP, NOC and More

Loop Capital analyst Charles Park initiated coverage of $Micron Technology(MU.US)$ with a Buy rating and $70 price target. The analyst expects DRAM fundamentals to bottom in the first half of 2023 and notes that the shares "typically bottoming a couple of quarters ahead."

Wedbush analyst Nick McKay initiated coverage of $Applovin(APP.US)$ with an Outperform rating and $26 price target. The stock's valuation multiple of 3-times expected forward revenue is warranted given the company's strong revenue and profit growth, though potential partially offset by concerns around macroeconomic pressure and guidance, the analyst tells investors in a research note.

Cowen analyst Helane Becker upgraded $Delta Air Lines(DAL.US)$ to Outperform from Market Perform with an unchanged price target of $54.