Baird Reiterates Outperform on Micron, $1,520 Price Target
Baird analyst Tristan Gerra reiterated an Outperform rating and $1,520 price target on Micron Technology (NASDAQ: MU).
“Micron expects DRAM supply to be “much tighter” in F2027-2028 than in F2026, which should warrant the stock to rerate. Micron expects DRAM industry bit growth in the low 20%s for C2027 and C2028.
We model 20% growth for C2027 and 30% + for C2028 as significant new capacity from Micron and peers starts coming in line.
We model sequential gross margin expansion resuming in the Feb-Q and for each quarter throughout F2027, albeit at a modest rate given our estimate that 40-50% of hyperscalers are now under CSAs.
Outperform-rated.”
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