Wedbush raised the firm’s price target on Micron (MU) to $200 from $165, with the new target calculated by applying a 10-times multiple to its FY27 EPS estimates. While this multiple is at the higher end of what Wedbush believes a memory vendor should be valued at peak cycles, the firm would note its out year gross margin assumptions for both NAND and DRAM remain well below the 2018 cyclical high despite a presumably positive contribution from HBM.
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