DA Davidson Initiates Coverage on Micron at Buy

DA Davidson analyst Gil Luria initiates coverage on Micron Technology (NASDAQ: MU) with a Buy rating and a price target of $1,000.00.

“We believe artificial intelligence is creating a longer-than-usual memory cycle as compute deployment and demand generation exist in a positive feedback loop, creating a structurally higher ceiling for memory pricing and demand.

The market is still framing the cycle through the lens of prior downturns, which appears to underestimate the demand environment, especially relative to the rest of the semi complex.

Combined with Micron’s node leadership and what we see as a long duration earnings power story, we see meaningful upside to shares. Initiating with a BUY rating and $1,000 target.”

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