Melissa Fairbanks, an analyst from Raymond James, reiterated the Buy rating on Micron. The associated price target was raised to $190.00.
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Melissa Fairbanks’s rating is based on several compelling factors. The strong performance in Micron’s recent quarter, driven by increased demand and favorable pricing in the AI datacenter sector, has led to an optimistic outlook. The company’s strategic focus on high-value HBM adoption and the expected lag in industry bit supply are anticipated to create favorable market conditions through FY26.
Additionally, Micron’s expansion into other growth areas such as automotive and smartphone memory further supports the positive forecast. The company’s robust revenue and earnings projections, alongside a significant increase in capital expenditures for advanced technology, underscore the potential for continued growth. These elements collectively justify the Buy rating, reflecting confidence in Micron’s ability to capitalize on emerging opportunities and sustain an upward trajectory.
In another report released today, Citi also reiterated a Buy rating on the stock with a $200.00 price target.