UBS raised the firm’s price target on Micron (MU) to $400 from $300 and keeps a Buy rating on the shares. Micron management highlighted the durability of the memory cycle, emphasizing that AI has made DRAM more strategic and faster HBM obsolescence reduces customer inventory buildup, the analyst tells investors in a research note. These dynamics could lessen the severe cyclicality historically seen in the market and support more durable EPS, UBS says.
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