Citi Reiterates Buy Rating on Micron Technology (MU), PT $150

Citi analyst Christopher Danely reiterated a Buy rating and $150.00 price target on Micron Technology (NASDAQ: MU).

The analyst comments "Today at a competitors’ conference, Micron stated its May quarter gross margin should decline by a few hundred basis points sequentially, below our estimate of a slight increase. As a result, we are lowering our F3Q25E gross margin from 40.0% to 35.0%. Micron stated that the lower margin outlook was driven by consumer DRAM mix, as well as NAND underutilization charges and NAND pricing weakness. While the lower guidance is disappointing, we are still optimistic on Micron given their AI HBM opportunity and our belief that the DRAM market will recover during the spring. We lower estimates but reiterate our Buy rating on Micron."

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 $94.08 yesterday.

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