Rosenblatt maintains Buy rating on Micron Technology, $1900 price target

Rosenblatt maintains Buy rating on Micron Technology, $1900 price target

Rosenblatt maintained their Buy rating on Micron Technology's stock with a price target of $1900.00.

The price target implies an upside of 78.4% from the Sep 30 close of $1065.11.

Key takeaways from the analyst note

Strong Financial Performance: Micron reported a record revenue of $54.23 billion in the fourth quarter, driven by significant increases in both DRAM and NAND pricing, surpassing consensus estimates. This robust financial performance, along with a projected sequential revenue growth for every quarter in FY27, supports the bullish outlook for the company's stock.

Strategic Customer Agreements Enhance Stability: The company has secured 26 multi-year take-or-pay agreements covering over 35% of its expected revenue through 2030, with potential for this coverage to reach 50%. These agreements provide a solid foundation for revenue and margin visibility, further reinforcing the Buy rating from analysts.

Across the four most recent analyst notes published on MU over the past 30 days, price targets range from $1400 to $2000.

Explore more price target data and ratings for Micron Technology on the Forecasts tab.