Micron initiated with a Buy at Deutsche Bank

Deutsche Bank initiated coverage of Micron (MU) with a Buy rating and $150 price target The firm is positive on both the company’s cyclical and secular setup. High bandwidth memory is an “underrated driver” of generative artificial intelligence processor performance improvements, and its growth should drive DRAM revenue growth for Micron with profitability above historical levels, the analyst tells investors in a research note. Deutsche also sees a path to continued bit growth and selling price expansion in Micron’s non-high bandwidth memory DRAM business in the coming years.