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Micron Technology (NASDAQ:MU) Stock Price Up 3% on Strong Earnings
- Baird raised its price target for Micron Technology to $1,520 from $1,280, citing bullish expectations for the chipmaker's role in the AI market and signaling a potential 40% upside from Friday's close.
- In a Monday note, analyst Tristan Gerra wrote that Micron is well-positioned due to surging agentic AI demand driving CPU growth, higher margin profiles for HBM next year, and slowing DRAM supply growth industrywide.
- LSEG data shows that 46 of 49 analysts rate the stock a buy or strong buy, with consensus estimates calling for year-over-year earnings growth of 939% ahead of the earnings release.
- Investors are awaiting the company's fiscal fourth-quarter report scheduled for release this Wednesday, with the new price target reflecting growing optimism ahead of the announcement.
- YTD, Micron has been on a tear driven by a memory chip shortage alongside other memory stocks, while the average price target across firms implies a further upside of 34% for shareholders.
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19 Articles
19 Articles
Micron's 279% Rally May Not Be Over. Baird Says Agentic AI Could Drive Chip Stock to New Heights.
The investment firm reiterated its outperform rating on Micron and raised its price target to $1,520 from $1,280, a level that would take the chipmaker into record territory.
·New York, United States
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Coverage Details
Total News Sources19
Leaning Left1Leaning Right1Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 17%
C 67%
R 16%
Factuality
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