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Micron Technology Earns an Upgrade at Baird, Shares Gain 4 percent

Micron Technology (NASDAQ:MU) shares rose more than 4% today after Baird analysts upgraded the company to Outperform from Neutral and raised the price target to $150 from $115. The analysts noted that while they may have been slow to recognize the potential, there are significant opportunities ahead for Micron, especially given the stock’s recent decline, which contrasts with positive trends emerging in DRAM based on recent channel checks. These trends suggest a promising outlook for the memory market over the next 12-18 months.
DRAM pricing is stronger than previously anticipated, particularly with the growing adoption of DDR5, which commands a premium price. Additionally, HBM3E could potentially bring in gross margins exceeding 60% for Micron next year.

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