Analyst Aaron Rakers of Wells Fargo reiterated a Buy rating on Micron, boosting the price target to $220.00.
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Aaron Rakers has given his Buy rating due to a combination of factors including Micron’s strong performance and promising future outlook. The company has demonstrated robust growth in its High Bandwidth Memory (HBM) segment, with expectations of continued demand and a significant total addressable market by 2030. Micron’s advancements in HBM technology, such as industry-leading power efficiency and increased customer base, further bolster confidence in its growth trajectory.
Additionally, Micron’s new Cloud Memory Business Unit highlights its momentum in the data center DRAM market, with substantial revenue contributions and a strong position in LPDDR5X technology. The company’s financial guidance and adjusted estimates for the coming years reflect an optimistic view, with increased revenue and earnings projections. These factors collectively support the Buy rating, indicating a positive outlook for Micron’s stock performance.
In another report released today, KGI Securities also upgraded the stock to a Buy with a $196.00 price target.