Bank of America: Raises Micron Price Target to $1,550, Reiterates Buy Rating

Odaily Planet Daily News Bank of America Securities stated in a report that Micron has once again delivered strong quarterly results, reinforcing its constructive view on the role of memory in AI, as well as the increasing supply-side discipline supporting a more durable cycle. Strategic customer agreements have now reached 16, which may moderately limit short-term pricing upside, but by aligning with customers facing rising memory costs—accounting for approximately 35% of AI capital expenditure—it enhances visibility and reduces volatility.

Bank of America Securities reiterates a "Buy" rating on Micron, raising its future annual earnings per share forecast by 4% to 7%, and based on a sum-of-the-parts valuation method, lifting the price target from $1,500 to $1,550.