Wedbush Raises Micron Price Target to $500
Wedbush analyst Matthew S.
Bryson raised the price target on Micron Technology (NASDAQ: MU) to $500.00 (from $320.00) while maintaining an Outperform rating.
“with both numbers moving higher and MU trading below what we view as typical peak earnings multiples, we see no reason to shift our positive view on the name (or more broadly the memory industry).
Our new $500 PT is calculated by applying a 5X multiple to our new FY’27 EPS estimates and adding in net cash.
We see a mid-single digit multiple applied to peak earnings as consistent with valuation metrics memory vendors have seen during the peak of past cycles.”
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