Cantor Fitzgerald Raises Micron Price Target to $450
Cantor Fitzgerald analyst C.J.
Muse raised the price target on Micron Technology (NASDAQ: MU) to $450.00 (from $350.00) while maintaining an Overweight rating.
“During the last quarter, the company made multiple references to cost reductions.
That said, we believe there is a disconnect between consensus and cost-downs that will likely occur in CY26, which should drive gross margins and profitability higher than currently modeled.
Drivers here include better than expected cost execution, non-HBM content growth in servers, 1-γ yielding faster than expected for 12- high HBM, a robust G9 NAND ramp in the back-half of the FY, as well as higher utilization driven by strong bit growth.
We note that we are currently modeling -HSD%/-mid-teens% declines in DRAM/NAND for CY26.”
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