UPDATE: Micron Technology (MU) Earnings Preview, PT Raised to $130 at Citi

March 17, 2021 3:54 AM EDT
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Price: $92.15 -3.6%

Rating Summary:
    37 Buy, 10 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 17 | New: 52
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(Updated - March 17, 2021 7:47 AM EDT)

Citi analyst Christopher Danely raised the price target on Micron Technology (NASDAQ: MU) to $130.00 (from $116.00) ahead of F2Q21 results on March 31st. Citi expects Micron to guide F3Q21 above Consensus of $6.70 billion and $1.02 on stronger than expected DRAM pricing.

The analyst reiterated a Buy rating, stating "We expect results in line with the recent pre-announcement and the company to guide F3Q21 above Consensus due to the DRAM upturn. Our checks indicate DRAM pricing could be up as much as 20% QoQ in the June quarter and we are raising estimates and price target. We continue to see a path for Micron to achieve over $15.00 in EPS and the stock to reach $150.00".

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