During intraday trading, the stock price of Micron Technology (MU.US) experienced a meteoric rise, soaring nearly 8% and reaching an all-time high. The company's performance in the first quarter was nothing short of stellar. Revenue witnessed a remarkable year-on-year increase of 56.7%, climbing to a staggering $13.64 billion. Meanwhile, the operating profit saw an extraordinary surge of 168.1% year-on-year, reaching $6.419 billion. Furthermore, Micron Technology's performance guidance for the second quarter outstripped market expectations. In light of these impressive results and promising outlook, several prominent investment banks have revised their target prices for Micron Technology upwards. Morgan Stanley, for instance, raised its target price from $338 to $350 and continued to endorse it as a top-pick stock. Bank of America, not to be outdone, hiked its target price from $250 to $300 and upgraded its rating to 'Buy'. Citi also joined the bandwagon, increasing its target price from $300 to $330 while retaining a 'Buy' rating.