Evercore ISI analyst C.J. Muse raised his price target on Micron Technology Inc. shares to $100 from $80, ahead of the company’s Wednesday afternoon earnings report. “While Micron’s stock is up a solid ~90% over the last year, we note EPS has actually grown by ~130% meaning Micron’s very low multiple has continued to compress – a clear signal of cyclical concerns,” Muse wrote in a Saturday note. “Bigger picture, we continue to believe in memory as critical to the rise of the new data-centric economy, where a virtuous cycle (data generation at the edge drives increased need for storage and analytics) increases the value of data. At the same time, the few remaining memory players are committed to acting rationally and maximizing profit, rather than share.” He cited recent commentary about Samsung’s memory push-outs. Micron’s stock is down 0.5% in Monday trading but up 41% so far this year. The S&P 500 has gained 3.5% in that time, while the PHLX Semiconductor Index has risen 12%.