Shares of Micron Technology (MU) jumped after top analysts raised their price targets ahead of the company’s Q4 earnings report. The upgrades show confidence in strong demand for Micron’s memory and storage products and the company’s ability to benefit from the growing high-performance market. MU stock jumped more than 7% on Thursday and added another 2.6% in pre-market trading as of this writing. Year to date, the stock is up nearly 80%.
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Micron makes memory and storage products for AI systems. The company is slated to report Q4 results for FY25 on September 23. Investors now look to the upcoming results for clues on future growth and profits.
Citi Raises Price Target on MU Stock
Yesterday, Citi’s top-rated analyst Christopher Danely raised his price target from $150 to $175 while maintaining his Buy rating on MU. Danely expects the company to post results in line with its own guidance and slightly ahead of Wall Street forecasts, helped by stronger sales and higher prices for its DRAM and NAND chips. His upbeat view is supported by rising demand from data centers, a key source of Micron’s revenue.
For context, DRAM is fast memory for data a computer or server needs immediately, while NAND is long-term flash storage used in devices like SSDs and smartphones.
Analyst Danely is even more confident thanks to the recovery in the memory market and growing AI-related orders. His updated earnings estimates sit well above consensus, reflecting a strong belief that Micron can take advantage of these favorable trends.
Is Micron a Good Stock to Buy?
Wall Street analysts maintain a Strong Buy rating on Micron stock, with 25 Buys and four Holds assigned over the past three months. The recent rally has brought the stock close to Micron’s average price target of $153.20, implying about 1.7% upside from current levels.
