Micron Technology (MU) PT Raised to $135 at Susquehanna Following Raised Guidance

March 3, 2021 12:35 PM EST
Get Alerts MU Hot Sheet
Price: $95.59 +0.30%

Rating Summary:
    37 Buy, 10 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 19 | Down: 18 | New: 47
Trade Now! 
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

Susquehanna analyst Mehdi Hosseini raised the price target on Micron Technology (NASDAQ: MU) to $135.00 (from $125.00) while maintaining a Positive rating after the company raised Q2 guidance.

The analyst commented, "As was expected, MU preannounced the Feb-Q this morning. We are increasing our estimates/PT, and note that despite the recent rally, there remains an attractive risk/reward profile on the LONG side given the inherent leverage in the P&L that has just started to materialize. We believe the peak earning power could reach low teens, if not higher, vs. our updated CY21 EPS estimate of $7.08 and consensus of $5.60. This illustrates the extent of upside to earnings and also sustainability into CY22 that could materialize as ASPs across the board increase and margins expand. The next catalyst is for MU management and our peers to highlight increasing NAND ASPs into the spring while DRAM ASP increase strengthening."

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst PT Change

Related Entities

Susquehanna International Group of Companies, Earnings