Analyst Christopher Danely of Citi reiterated a Buy rating on Micron, retaining the price target of $275.00.
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Christopher Danely has given his Buy rating due to a combination of factors that highlight Micron’s promising outlook. The company’s High Bandwidth Memory (HBM) supply is fully contracted for 2026, indicating strong demand and securing future revenue streams. Additionally, Micron’s confirmation of multi-year contracts with customers, particularly from AI companies, suggests a stable and potentially increasing demand for DRAM, which is expected to support higher and sustainable pricing.
Furthermore, Danely anticipates capital infusions from AI customers, which will be necessary to meet the substantial production and capital expenditure requirements driven by the increased memory demand. He also projects that Micron’s gross margins will return to their peak levels, with earnings per share significantly surpassing consensus estimates. These factors contribute to Danely’s confidence in Micron’s growth potential, justifying the Buy rating and a target price of $275.
In another report released on November 17, Piper Sandler also maintained a Buy rating on the stock with a $200.00 price target.
Based on the recent corporate insider activity of 92 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.