BofA Securities Keeps Buy on Micron, $1,550 PT

BofA Securities analyst Vivek Arya reiterated a Buy rating and a $1,550 price target on Micron Technology (NASDAQ: MU), saying SanDisk’s durable-memory framework reframes Micron from peak-cycle to structurally higher earnings power, with a potential for $230+ in EPS.

“We reiterate our Buy rating on Micron, our $1,550 PO, and note its recent addition to BofA’s US 1 List.

Memory has historically been viewed as the most cyclical segment of semis, but SNDK’s Analyst Day suggests the industry may be entering a more durable phase.

SNDK committed to 15% annual sales growth and >80% gross margins through FY30, supported by customer commitments and supply discipline, providing a framework for how investors may ultimately view memory stocks….

Applying SNDK-like assumptions to MU would yield $200-$250 FY30 EPS, implying a 30%+ FY26-FY30 EPS CAGR, versus consensus expectations of roughly $160-$170 peak EPS over the next one to two years.”

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