Micron Analysts Boost Their Forecasts After Upbeat Q3 Results
Portfolio Pulse from Lisa Levin
Micron Technology, Inc. (NASDAQ:MU) reported better-than-expected Q3 results with revenue of $3.75 billion, beating the consensus estimate of $3.65 billion. The company also reported a smaller loss than anticipated. Micron expects Q4 revenue to be between $3.7 billion and $4.1 billion. Following the earnings announcement, Keybanc and Piper Sandler raised their price targets on Micron.
June 29, 2023 | 9:59 am
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Micron Technology reported better-than-expected Q3 results and anticipates Q4 revenue between $3.7 billion and $4.1 billion. Analysts from Keybanc and Piper Sandler raised their price targets on the company following the earnings announcement.
Micron Technology's better-than-expected Q3 results and positive Q4 revenue forecast are likely to boost investor confidence, potentially leading to a short-term increase in the company's stock price. The raised price targets by Keybanc and Piper Sandler further support this outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100