Raymond James analyst Srini Pajjuri raised the firm’s price target on Micron (MU) to $150 from $120 and keeps an Outperform rating on the shares. The company’s Q3 results and Q4 outlook were both better than consensus, and gross margins were ahead of the firm’s recent expectations, getting on track for further expansion Q4 and Q1 driven by pricing and mix tailwinds, the analyst tells investors in a research note. The firm also said that high-bandwidth memory revenue grew about 50% quarter-over-quarter once again, adding that the HBM4 roadmap looks “solid,” which could unlock further share gains in 2026.
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