Micron Technology NASDAQ:MU climbed more than 6% in premarket trading Tuesday after Bank of America added the memory chipmaker to its U.S. 1 List, according to a Tuesday research note.
Micron led the early gains, with shares rising about 6.5% before the opening bell, while Keurig Dr Pepper edged modestly higher in premarket trading following the portfolio update.
The U.S. 1 List is Bank of America's collection of its highest-conviction equity recommendations and is periodically updated to reflect the firm's preferred investment ideas across sectors.
The latest additions come as investors continue to monitor analyst recommendation changes during the second-quarter earnings season, when brokerage firms often revisit their outlooks in response to corporate results and evolving market conditions. Bank of America did not provide additional details in the update regarding the reasons for adding Micron and Keurig Dr Pepper to the list.