Micron Technology (MU) PT Raised to $150 at Susquehanna

April 1, 2021 6:25 AM EDT
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Price: $84.71 -5.34%

Rating Summary:
    37 Buy, 10 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 10 | New: 17
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Susquehanna analyst Mehdi Hosseini raised the price target on Micron Technology (NASDAQ: MU) to $150.00 (from $145.00) while maintaining a Positive rating.

The analyst commented, "Updating estimates/PT following MU earnings report from last night. All in all, we argue our thesis is playing out as strengthening supply-demand and thus higher blended ASPs are lifting margins. Given the high fixed structure of the biz model, we think there is still 15-20 pts of OM expansion left that could drive annual earnings from the current ~$4.00 to $15+ by YE22. As such, we argue there is still plenty of upside left to the share price given our updated PT of $150."

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