Baird lowered the firm’s price target on Micron (MU) to $130 from $150 and keeps an Outperform rating on the shares following last night’s results. Micron’s outlook, notably in NAND, reflects further and recent deterioration in macro trends from an already step down in demand over the summer, the analyst tells investors in a research note. The firm expects DRAM pricing to decline through mid-2025, driven by weakness in PCs and mobile, and slightly rebound in the second half of 2025. It believes Micron’s high-bandwidth memory opportunity is not priced into the shares.
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Read More on MU:
- Citi stays Buy on Micron despite worse than expected guidance
- Micron price target lowered to $145 from $180 at JPMorgan
- Micron price target lowered to $110 from $145 at Barclays
- Micron price target lowered to $140 from $175 at Wells Fargo
- Micron downgraded to Neutral at BofA on extended pricing pressure
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
