Harlan Sur, an analyst from J.P. Morgan, reiterated the Buy rating on Micron. The associated price target was raised to $220.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Harlan Sur’s rating is based on Micron’s strong quarterly performance and optimistic future outlook. The company has shown impressive results in the August quarter, surpassing previous expectations in revenue, gross margin, and earnings. This success is largely attributed to the robust demand in the AI and datacenter sectors, as well as improved pricing trends in both DRAM and NAND products. Additionally, Micron’s execution on its HBM technology roadmap positions it well for continued market share gains.
Micron’s management has provided a strong outlook for the upcoming quarter, with expectations for gross margins to continue expanding. The company’s advancements in HBM technology, including the HBM3E ramp and future HBM4 developments, are expected to drive further growth. With secured pricing agreements and strategic investments in DRAM, Micron is poised for favorable pricing and demand dynamics through 2026. Consequently, Harlan Sur has raised the price target for Micron’s stock to $220, reinforcing his Buy rating.
In another report released today, Citi also reiterated a Buy rating on the stock with a $200.00 price target.
Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MU in relation to earlier this year.