KeyBanc analyst John Vinh reiterated an Overweight rating and $1,750.00 price target on Micron Technology (NASDAQ: MU)

The analyst comments: “MU reported strong F4Q (Aug) results and F1Q (Nov) guidance, which solidly exceeded expectations, as DRAM/NAND pricing incr. high teens% / +30% q/q. Notably MU indicated it has signed 26 SCAs, up from 16 last quarter with two extensions into 2031, with the SCAs covering 35% of revs through 2030. Also, deposits have increased to $32B ($22B prior). MU also indicated CY27 demand is stronger vs. last qtr and now expects supply tightness to persist in CY28. We're encouraged by these results and are raising ests.”

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Shares of Micron Technology closed at $1065.11 yesterday.