Tailwinds Ahead for Micron: Analysts Gauge the Impact of DRAM Inventory, Samsung's Supply Cuts, and SSD Pricing Dynamics
Portfolio Pulse from Anusuya Lahiri
Analysts from Mizuho and Piper Sandler have provided their insights on Micron Technology Inc (NASDAQ:MU) ahead of its Q4 earnings report. Mizuho analyst Vijay Rakesh maintained a Buy rating and raised the price target from $72 to $82, expecting Q4 revenue, gross margin, and EPS in line with consensus. He also estimates improvements in Mobile and DC inventory normalization for MU's November quarter. Piper Sandler analyst Harsh V. Kumar reiterated a Neutral rating and a price target of $70, expecting pricing to start working in favor of Micron starting next year due to supply cuts initiated by Samsung and in the broader industry.
September 22, 2023 | 7:50 pm
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Analysts from Mizuho and Piper Sandler have provided their insights on Micron Technology Inc (NASDAQ:MU) ahead of its Q4 earnings report. Mizuho analyst Vijay Rakesh maintained a Buy rating and raised the price target from $72 to $82, expecting Q4 revenue, gross margin, and EPS in line with consensus. He also estimates improvements in Mobile and DC inventory normalization for MU's November quarter. Piper Sandler analyst Harsh V. Kumar reiterated a Neutral rating and a price target of $70, expecting pricing to start working in favor of Micron starting next year due to supply cuts initiated by Samsung and in the broader industry.
The positive outlook from Mizuho analyst, including a raised price target, indicates a bullish sentiment for Micron Technology. The neutral stance from Piper Sandler analyst, however, suggests a more cautious approach. The expected improvements in Mobile and DC inventory normalization, as well as the potential positive impact of supply cuts in the industry, could lead to a favorable setup for Micron in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100