Analyst Quinn Bolton from Needham maintained a Buy rating on Micron and keeping the price target at $150.00.
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Quinn Bolton has given his Buy rating due to a combination of factors including Micron’s strong preliminary results for the fourth quarter of fiscal year 2025. The company has reported significant improvements in revenue, non-GAAP gross margin, and earnings per share compared to its previous guidance. Specifically, revenue is expected to reach $11.2 billion, which is higher than the prior estimate of $10.7 billion, while non-GAAP EPS is anticipated to be $2.85, up from the earlier forecast of $2.50.
Bolton’s positive outlook is further supported by better-than-expected pricing in the DRAM segment across most end markets. The demand in AI and data center markets remains strong, and non-AI markets are stable. Additionally, customer feedback indicates that HBM capacity is effectively sold out, reinforcing the company’s growth prospects. These factors contribute to the reaffirmation of a price target of $150, based on a 1.9x multiple of the new first quarter 2028 tangible book value per share estimate.
In another report released today, Rosenblatt Securities also maintained a Buy rating on the stock with a $200.00 price target.