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Rosenblatt Raises Micron Price Target To $500
6.0
Rosenblatt Capital Markets raised its price target on Micron Technology to $500 from $300 on December 18, maintaining a Buy rating after Micron's November-quarter results and February guidance beat consensus. The analyst cited newly negotiated DRAM and NAND prices, falling costs, and guidance of a record 68% February non-GAAP gross margin, forecasting $36 in FY27E earnings and demand outstripping supply into CY27.
Key Points
- 1Raises price target to $500 after strong November-quarter results and February guidance beat consensus
- 2Cites record February non-GAAP gross margin guidance of 68% and tight supply into CY27
- 3Impacts investors by implying higher FY27E earnings ($36) using a 14x multiple, supporting buy thesis
Scoring Rationale
Analyst upgrade includes specific margin and EPS estimates; limited by reliance on one sell-side report and promotional framing.
Sources
Public references used for this report.
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