Citi Micron · MU

Citi Lowers Micron Price Target to $120

March 21, 2025 Analyst: Christopher Danely 1 min read Reproduced verbatim
Rating
Buy
Target
$120
from $150 (−20%)
Outcome
Reached
on June 17, 2025
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What the analyst said

Citi analyst Christopher Danely lowered the price target on Micron Technology (NASDAQ: MU) to $120 (from $150) while maintaining a Buy rating.

“Yesterday after the close, Micron reported decent results and guided above Consensus driven by higher DRAM sales.

While margins remain lower than expected, we continue to believe that DRAM pricing should improve beginning in 2Q25 and the DRAM market will recover given supply/demand dynamics for C25 and increasing HBM revenue.

We raise estimates and reiterate our Buy rating on Micron.

However, it appears Micron gross margins could peak below previous upturns, and as a result we are lowering our price target to reflect a lower multiple.”

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The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

MU trades at $879. The 27 analysts who set a target in the last 3 months range from $1,200 to $3,000, with a median of $1,540. This $120 target is 92% below the median, the lowest on the Street.

Since the note MU has moved +753% (from $103). The 12-month window closed on March 21, 2026.

Track record

This call✓ Target reached on June 17, 2025, 3 months after the note.

Firm track recordCiti: 86% of its 22 targets at least a year old were reached within 12 months (#10 of 28 firms); on Micron, 8 of 8. Accuracy ranking →

Citi on Micron

Citi price targets on Micron

8 calls from January 7, 2025 to September 11, 2025. The target went from $150 to $175 (+17%). The rating stayed Buy.

Citi targetMU share price
  1. September 11, 2025Target raised from $150 (+17%)Buy$175
  2. June 26, 2025Target raised from $130 (+15%)Buy$150
  3. June 9, 2025Target raised from $110 (+18%)Buy$130
  4. April 11, 2025Target cut from $120 (−8%)Buy$110
  5. April 1, 2025Kept the $120 targetBuy$120
  6. March 21, 2025 This noteTarget cut from $150 (−20%)Buy$120
  7. February 12, 2025Kept the $150 targetBuy$150
  8. January 7, 2025Earliest call shownBuy$150
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Other analysts on Micron

DA DavidsonBuy Raised price target +43%, kept rating · Oct 7 $3,000from $2,100 BairdBuy Kept rating and price target · Oct 2 $1,520maintained CLSABuy Kept rating and price target · Oct 2 $1,700maintained Freedom BrokerBuy Kept rating and price target · Oct 1 $1,600maintained BernsteinBuy Kept rating and price target · Oct 1 $1,300maintained
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.