Micron Technology (MU) PT Raised to $125 at Susquehanna

Susquehanna analyst Mehdi Hosseini raised the price target on Micron Technology (NASDAQ: MU) to $125.00 (from $100.00) while maintaining a Positive rating to reflect the recent checks on pricing trends.

The analyst commented, "Our updated FY/CY21 EPS estimates of $4.92/$6.90 compare to the current consensus $4.17/$5.15. Other than DRAM/NAND ASP trends, key catalysts on the horizon for MU include: 1) introduction of its own High Memory Bandwidth (HMB3), 2) executing on the cost-down strategy as MU aims to be cost competitive against Samsung, 3) an update on capital return strategy, especially as net cash balance continues to improve, 4) maximizing the back-end (assembly/test) operation for increased throughput and ROI, and 5) capitalizing on potential opportunities that CXL bus interface could catalyze."

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