Morgan Stanley analyst Joseph Moore has maintained their neutral stance on MU stock, giving a Hold rating on September 3.
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Joseph Moore’s rating is based on a combination of factors influencing Micron’s stock. Despite the stock’s upward trajectory, Moore perceives the risk-reward balance as fair, with a slight positive inclination. This is not due to the stock being undervalued, but rather because it could become overvalued if enthusiasm around high bandwidth memory (HBM) opportunities resurfaces.
Moreover, Moore notes significant movements in DDR5 pricing, which is expected to rise considerably due to strong demand from various sectors, including AI and general-purpose servers. While DDR4 pricing has also increased, it is less relevant to Micron due to its minor contribution to revenues. Additionally, NAND pricing is robust, driven by enterprise SSD demand. These factors collectively contribute to Moore’s Hold rating, as they present both opportunities and uncertainties for Micron’s future performance.
In another report released on September 3, Goldman Sachs also reiterated a Hold rating on the stock with a $130.00 price target.