:max_bytes(150000):strip_icc()/GettyImages-2225143290-0784aefe32014ad681f73e7b40ef65ac.jpg "Micron Technology Stock Jumps on Price Target Increase From Citi")
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Key Takeaways
- Citi analysts raised their price target on Micron Technology to $175 from $150 and reiterated their “buy” rating.
- The analysts said the change was based on rising demand for DRAM semiconductors and Micron’s artificial intelligence products.
- Citi expects Micron to give a better-than-expected outlook when it reports earnings later this month.
Shares of Micron Technology (MU) surged roughly 8% Thursday when Citi analysts boosted their price target, pointing to an increase in demand for dynamic random-access memory (DRAM) chips and the company’s artificial intelligence exposure.
The analysts raised Micron’s price target to $175 from the previous $150 and affirmed their “buy” rating on the stock.
In a note to investors, the analysts wrote they believe that the “continued memory upturn is being driven by limited production and better than expected demand, particularly from the data center end market.”
Micron releases its fiscal 2025 fourth-quarter report on Sept. 23, and Citi anticipates adjusted earnings per share of $2.62 and revenue of $11.20 billion, in line with overall analysts’ estimates. However, Citi anticipates the company’s guidance will be well above expectations, “driven by higher DRAM and NAND sales and pricing.”
Micron Technology shares have risen nearly 80% year-to-date.
