Stifel upgrades Micron price target to $120
Stifel upgraded Micron Technology’s stock from Hold to Buy with a price target of $120, citing positive trends in memory prices and expected recovery in DRAM supply.
The firm’s revised earnings outlook for Micron suggests an EPS of $10 for CY25 compared to consensus estimates of less than $7. Stifel views the stock’s forward P/E ratio in the low teens as reasonable, given its ties to AI/HBM markets. This updated perspective reflects a more optimistic view of Micron as it enters an early expansion phase.