Morgan Stanley Keeps Overweight on Micron, $1,200 Price Target
Since this note+3% MU $1,065.11 → $1,097.39 (Oct 2) · 24% of the way to the target
Morgan Stanley analyst Joseph Moore reiterated an Overweight rating and $1,200 price target on Micron Technology (NASDAQ: MU).
“Over the last 3 quarters, Micron had beat and guided ahead of consensus on EPS by 20-40%, today it beat by 5%, and guided 6% above consensus.
That may be the new normal as Micron’s visibility improves and more bits move under LTA’s.
But the smaller magnitude of revisions to near-term numbers should be priced in, and there are still clear signs that the duration is extending.
Micron signed 10 new SCA customers, and is adding duration beyond 2030 in some cases – a testament to the customer anxieties about securing DRAM even 5 years from now.”
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.
This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.
Other Micron notes
CLSABuy
Kept rating and price target · Oct 2
$1,700maintained
Freedom BrokerBuy
Kept rating and price target · Oct 1
$1,600maintained
BernsteinBuy
Kept rating and price target · Oct 1
$1,300maintained
UBSBuy
Kept rating and price target · Oct 1
$1,625maintained
DA DavidsonBuy
Raised price target +5%, kept rating · Oct 1
$2,100from $2,000