Karl Ackerman upgraded both stocks to outperform from market perform. He also raised his Micron price target to $70 per share from $50 per share. That target implies more than 30% upside from Monday's close of $53.57 per share. Ackerman hiked his Western Digital price target to $88 per share from $45 per share, implying nearly 40% 12-month upside from Monday's close of $63.37 per share.
Micron shares rose 8.8% to $58.27 per share, while Western Digital advanced 6.8% to $67.66 per share.