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Micron Technology, Inc. (NASDAQ:MU) is among the Stocks That Will Double in the Next 5 Years.
The Street has a bullish outlook on Micron Technology, Inc. (NASDAQ:MU) as 92% of the 48 analysts covering the stock have a Buy rating. Moreover, the analyst’s 12-month average price target suggests more than 20% upside from the current level.
Recently, on April 7, Timothy Arcuri from UBS raised the price target on the stock from $510 to $535, while maintaining a Buy rating on the shares. The firm noted stronger DRAM and NAND pricing as one of the key reasons behind the price target upgrade. Moreover, UBS also highlighted that a potential memory super-cycle can offset gross margin concerns.
On the other hand, earlier on March 31, Atif Malik from Citi assigned a Buy rating on the stock but lowered the price target from $512.05 to $425. The analyst quoted weaker DRAM spot prices due to TurboQuant concerns. However, the analyst still believes the medium-term demand for DRAM and NAND remains intact.
Micron Technology Inc. (NASDAQ:MU) designs, develops, manufactures, and markets memory and storage products, including dynamic random-access memory (DRAM), flash memory (NAND), solid-state drives (SSDs), and High Bandwidth Memory (HBM) globally.
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