Micron price target raised to $700 from $450 at Cantor Fitzgerald

Cantor Fitzgerald analyst C.J. Muse raised the firm’s price target on Micron (MU) to $700 from $450 and keeps an Overweight rating on the shares. Micron delivered another blowout, guiding May quarter EPS of $19.15 versus consensus of $12.03, driven by strong pricing across DRAM and NAND and AI now consuming 50% of total DRAM bits, with tight NAND supply and KVCache further supporting margins, the analyst tells investors in a research note.