It's not a misprint. If the season ended today, the Grizzlies would be in the playoffs. Memphis has come on winning eight of its last 10 games, going 7-3 ATS, to grab the eighth spot in the Western Conference. 
Phoenix is much improved, too. But the Grizzlies are the better team with more balanced scoring and prime rookie of the year candidate Ja Morant trumping Ricky Rubio at point guard. Morant is averaging 17.4 points and 7.1 assists. Sparked by Morant, the Grizzlies are the highest scoring team in the league this month. 
Memphis has scored 110 or more points in 15 of its last 16 games. Phoenix ranks 20th in scoring defense and 24th in defensive field goal percentage. The Suns enter this matchup a bit fat and happy having defeated the Spurs this past Friday in San Antonio. It was the Suns' first win there in seven years. 
The Suns beat the Grizzlies on Nov. 2. Memphis has improved a great deal since then beating the Suns, 115-108, on Dec. 11 and 121-114 on Jan. 5. Both of those victories came at Phoenix.