Citi reiterates a Buy rating on Micron Technology with a $150 price target saying the company reported above-consensus results and guidance, driven by better than expected DRAM pricing due to strength from the data center end market, which represents 25% of sales. While there is excess DRAM inventory in the PC and handset end markets, this should finish by spring and is being offset by strength from the data center end market, the analyst tells investors in a research note. Citi remains bullish on the DRAM recovery given supply/demand dynamics for 2025.
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