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Investing.com - Micron Technology (NASDAQ:MU) received new analyst coverage Wednesday as CLSA initiated research with an Outperform rating and $155 price target. The semiconductor giant, which has seen its stock surge over 27% in the past six months, continues to demonstrate strong momentum with a market capitalization of $130 billion.
CLSA cited Micron’s strong positioning to capitalize on demand for high bandwidth memory (HBM) from artificial intelligence customers as a key factor in its bullish outlook. According to InvestingPro data, 19 analysts have recently revised their earnings estimates upward, reflecting growing confidence in the company’s AI-driven growth potential.
The research firm expects Micron to benefit from what it forecasts will be a healthy demand-supply balance in DRAM memory during the second half of 2025 through 2026, noting that conventional DRAM supply will likely remain constrained as suppliers focus on HBM production.
In the NAND flash memory segment, CLSA observed that demand from cloud hyperscalers for enterprise solid-state drives (eSSDs) is in the early stages of recovery, while suppliers maintain disciplined capital expenditure and production levels.
The $155 price target is based on a 2.4x multiple of Micron’s fiscal year 2026 book value, according to CLSA’s research note.
In other recent news, Micron Technology has seen a series of analyst ratings and updates that highlight its current and future market position. Cantor Fitzgerald maintained its Overweight rating on Micron with a price target of $155.00, acknowledging the impact of Samsung’s qualification on Micron’s High Bandwidth Memory (HBM) market share. Wolfe Research reiterated an Outperform rating with a $160 price target, noting that this represents about 11 times their 2026 earnings per share estimate of $14.32. Erste Group initiated coverage with a Buy rating, citing Micron’s improved financial guidance for the fourth quarter of fiscal 2025. Wells Fargo expressed confidence in Micron’s ability to maintain a low to mid-20% HBM market share by the second half of 2025. TD Cowen reiterated a Buy rating with a $150.00 price target, following Micron’s positive preannouncement of its August quarter results and an increased EPS estimate for the November quarter. These developments indicate a generally positive outlook from analysts regarding Micron’s financial performance and market positioning.
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