Micron stock price target raised at Citi, Baird; shares rise
) shares rose ahead of Monday's market open after analysts at Baird and Citi lifted their respective price targets on the AI memory chipmaker.Citi, which rates MU stock as a Top Pick, expects the company to report better-than-expected results and guidance “given the DRAM upturn and Micron’s increasing AI memory exposure.”
The Wall Street giant foresees $700 million in Micron’s AI high-bandwidth memory revenue in calendar year 2024 and $3 billion in 2025. “HBM is reminiscent of the early days of NAND flash, with similar bit CAGR and an even-higher gross margin profile potential. Near- term, memory pricing trends remain strong with continued price increases expected throughout the year,” the investment firm wrote.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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