Exane BNP Paribas Double Downgrades Micron Technology (MU) to Underperform, 'we think Micron will underperform AI peers through ’25'

(Updated - September 12, 2024 8:44 AM EDT)

Exane BNP Paribas analyst Karl Ackerman downgraded Micron Technology (NASDAQ: MU) from Outperform to Underperform, PT $67.00 (from $140.00).

The analyst comments "We are downgrading Micron (MU) from Outperform to Underperform with a TP of $67 (from $140). While some investors correctly anticipate downside risk to near-term results, we think Micron will underperform AI peers through ’25 as HBM capacity oversupply leads to a faster than anticipated market correction of conventional DRAM ASPs. We are 34%/45% below Cons CY25/CY26 EPS."

For an analyst ratings summary and ratings history on Micron Technology click here. For more ratings news on Micron Technology click here.

Shares of Micron Technology closed at $90.65 yesterday.

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