As Micron Technology Inc (NASDAQ:MU) gears up to report earnings in the coming weeks, one analyst is already looking ahead to 2025.
What Happened: Stifel analyst Brian Chin upgraded Micron on Thursday from a Hold rating to a Buy rating and raised the price target from $80 to $120 as he sees the company outperforming Street estimates as DRAM supply recovers.
The Stifel analyst acknowledged electronics demand has yet to strengthen to the degree that he was anticipating, but following a series of checks, he believes DRAM supply is tightening and on a trajectory to recover by the middle of the year.
“Recent checks point to continued year-to-date recovery in DRAM fab utilization across the industry … we view tightening conditions in the DRAM ...