Citi Raises Micron Price Target Ahead of Earnings Amid Strong Demand and Pricing Outlook
On September 23, Citi analyst Atif Malik raised his price target for Micron Technology (NASDAQ:MU) to $1,300 from $1,150 while maintaining a Buy rating. The stock closed at around $1,093 on Tuesday and is up more than 270% year-to-date despite significant volatility. Malik cited stronger-than-expected blended DRAM pricing assumptions as the basis for his revised estimates, projecting fiscal fourth-quarter revenue of $51 billion and earnings per share (EPS) of $31.45—both above Wall Street consensus. Micron is set to report Q4 results on September 30. Citi also highlighted SEMICON West in October as a potential catalyst for further upside, where industry participants may confirm ongoing supply constraints that support higher memory prices and better margins.
