Citi analyst Christopher Danely reiterated a Buy rating on Micron yesterday and set a price target of $150.00.
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Christopher Danely has given his Buy rating due to a combination of factors related to Micron’s recent performance and future outlook. The company has raised its guidance for the August quarter, driven by stronger-than-expected DRAM pricing, particularly in the data center and AI sectors, which account for a significant portion of its sales. This positive pricing trend is expected to continue, contributing to an overall upturn in the DRAM market.
Additionally, Micron has increased its financial projections for the fiscal year 2025, including sales and gross margin estimates, reflecting confidence in sustained demand and limited supply growth. The company’s strategic positioning in the high-bandwidth memory market, with expectations to sell out by 2026, further supports the optimistic outlook. Consequently, Danely has raised his sales and earnings estimates for the coming years and maintains a price target that aligns with Micron’s historical average, reinforcing the Buy recommendation.
Danely covers the Technology sector, focusing on stocks such as Microchip, Advanced Micro Devices, and Intel. According to TipRanks, Danely has an average return of 9.8% and a 61.63% success rate on recommended stocks.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $137.00 price target.