Analyst Krish Sankar from TD Cowen maintained a Buy rating on Micron and keeping the price target at $150.00.
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Krish Sankar has given his Buy rating due to a combination of factors that suggest a positive outlook for Micron’s financial performance. Firstly, Micron’s recent positive preannouncement for the August quarter, driven by higher DRAM pricing, indicates strong revenue and earnings potential. This is further supported by the company’s confidence in selling out its HBM3E 12H supply by CY26, which could generate significant revenue.
Additionally, Sankar’s analysis suggests that temporary supply tightness in the memory market, due to process node transitions by competitors, may benefit Micron. The stable demand from hyperscale customers and increased activity from China-based clients also contribute to the optimistic outlook. Furthermore, the potential for Micron shares to perform well as part of the AI trade, along with a possible re-rating of the stock, supports the Buy rating. Sankar values Micron at a price target of $150, reflecting a 12x multiple of the CY26 EPS estimate.
According to TipRanks, Sankar is a 5-star analyst with an average return of 18.3% and a 58.27% success rate. Sankar covers the Technology sector, focusing on stocks such as Apple, MKS, and Seagate Tech.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $137.00 price target.