Cantor Fitzgerald Maintains Overweight on Micron, $155 Price Target

Cantor Fitzgerald analyst C.J.

Muse reiterated an Overweight rating and $155 price target on Micron Technology (NASDAQ: MU).

“while a successful Samsung qualification will likely impact Micron’s market share position, we continue to believe that Samsung’s gains will largely come at the expense of Hynix.

With regards to tailwinds, we see large hurdles in Samsung’s ability to overcome technological challenges including acceptable and thermal/power issues as well as poor yields derived from issues with dicing, sawing and laser ablation as well as delamination and cracking.

Additionally, the HBM roadmap will only get more difficult as stacks get higher and customized logic base dies come into play in the HBM4E timeframe.

This, coupled with Micron’s performance/watt advantage and stable supply should augur well for sustained demand for Micron’s HBM products.”

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