Micron Stock Gains 1.8% as Citi Ups Price Target to a New Street High into Earnings

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Micron Stock Gains 1.8% as Citi Ups Price Target to a New Street High into Earnings

Investing03-15

Citi Research analysts hiked their price target for Micron Technology (NASDAQ:MU) to a new Street high ahead of the company’s fiscal Q2 2024 report scheduled for March 20.The global investment bank ...

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Please sign in or upgrade to SI Premium to view.)","content":"<html><head></head><body><p>Citi Research analysts hiked their price target for Micron Technology (NASDAQ:MU) to a new Street high ahead of the company’s fiscal Q2 2024 report scheduled for March 20.</p><p style=\"text-align: left;\">The global investment bank lifted the price objective from $95 to $150 and earnings per share (EPS) estimates for the fiscal 2025 year from $6.38 to $6.65.</p><p style=\"text-align: left;\">“We expect the company to post upside to Consensus and increased guidance for F3Q24 given strong DRAM pricing and shipments of higher-priced, higher-margin, High Bandwidth Memory (HBM) which is shipping with Nvidia AI systems,” analysts said.</p><p>Micron shares gained 1.8% on the news.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/4bb8f92095ad8af8c09f196107fd8908\" title=\"\" tg-width=\"846\" tg-height=\"847\"/></p><p style=\"text-align: start;\">The new target represents a 50% to the chipmaker’s historic range, but Citi thinks the stock deserves a premium “given increasing AI exposure and other AI-exposed stocks such as AVGO and AMD have seen a 100% increase in their multiples,” added analysts.</p><p style=\"text-align: left;\">“Micron remains our top pick and Buy-rated.”</p><p style=\"text-align: left;\">The team expects Micron to report an FQ2 2024 loss per share of $0.28, compared to the consensus projection of $0.42 loss per share, attributed to higher margins.</p><p style=\"text-align: left;\">Their revenue forecast of $5.30 billion, marking a 12% quarter-over-quarter increase, aligns with the consensus estimate of $5.30 billion, also reflecting a 12% rise from the previous quarter.</p></body></html>","source":"lsy1594375853987","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMicron Stock Gains 1.8% as Citi Ups Price Target to a New Street High into Earnings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-15 21:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investing.com/news/stock-market-news/micron-stock-gains-as-citi-ups-price-target-to-a-new-street-high-into-earnings-432SI-3339582><strong>Investing</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Citi Research analysts hiked their price target for Micron Technology (NASDAQ:MU) to a new Street high ahead of the company’s fiscal Q2 2024 report scheduled for March 20.The global investment bank ...</p>\n\n<a href=\"https://www.investing.com/news/stock-market-news/micron-stock-gains-as-citi-ups-price-target-to-a-new-street-high-into-earnings-432SI-3339582\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4585":"ETF&股票定投概念","BK4533":"AQR资本管理(全球第二大对冲基金)","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","BK4575":"芯片概念","BK4566":"资本集团","BK4527":"明星科技股","LU1267930813.SGD":"FRANKLIN TEMPLETON SHARIAH GLOBAL EQUITY \"AS\" (SGD) ACC","BK4588":"碎股","BK4579":"人工智能","BK4141":"半导体产品","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4512":"苹果概念","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","MU":"美光科技","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","BK4553":"喜马拉雅资本持仓"},"source_url":"https://www.investing.com/news/stock-market-news/micron-stock-gains-as-citi-ups-price-target-to-a-new-street-high-into-earnings-432SI-3339582","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2419846921","content_text":"Citi Research analysts hiked their price target for Micron Technology (NASDAQ:MU) to a new Street high ahead of the company’s fiscal Q2 2024 report scheduled for March 20.The global investment bank lifted the price objective from $95 to $150 and earnings per share (EPS) estimates for the fiscal 2025 year from $6.38 to $6.65.“We expect the company to post upside to Consensus and increased guidance for F3Q24 given strong DRAM pricing and shipments of higher-priced, higher-margin, High Bandwidth Memory (HBM) which is shipping with Nvidia AI systems,” analysts said.Micron shares gained 1.8% on the news.The new target represents a 50% to the chipmaker’s historic range, but Citi thinks the stock deserves a premium “given increasing AI exposure and other AI-exposed stocks such as AVGO and AMD have seen a 100% increase in their multiples,” added analysts.“Micron remains our top pick and Buy-rated.”The team expects Micron to report an FQ2 2024 loss per share of $0.28, compared to the consensus projection of $0.42 loss per share, attributed to higher margins.Their revenue forecast of $5.30 billion, marking a 12% quarter-over-quarter increase, aligns with the consensus estimate of $5.30 billion, also reflecting a 12% rise from the previous quarter.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":6,"commentSize":0,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}