Micron Technology, Inc. (NASDAQ:MU) shares closed more than 10% higher on Tuesday, following the company’s reported Q1 results, with revenue coming in at $7.69 billion (up 33.2% year-over-year), beating the consensus estimate of $7.67 billion.

Following the results, analysts at Deutsche Bank raised their price target on the company’s shares to $100 from $90, while maintaining their buy rating. The analysts raised their estimates as their more positive outlook for the DRAM market (better-than-feared going into 2022) more than offsets the more cautious NAND market outlook.