Posted 3/7/2024, 8:41:36 PM
Stifel Upgrades Micron to Buy, Sets $120 Price Target on AI and Memory Growth Potential
- Stifel analysts upgraded Micron Technology (MU) to a Buy rating and raised its price target to $120 per share
- Analyst Brian Chin disagrees with Wall Street's consensus estimates for Micron in 2025, believing the company can expand exponentially in memory storage and AI hardware
- Chin believes Micron is undervalued based on its growth potential in AI and DRAM markets
- The note stands out for directly challenging other analysts' 2025 forecasts for Micron as being too low
- Despite already rallying 80% over the past year, Stifel sees further upside for Micron stock based on its valuations relative to growth