Citi reiterates a Buy rating on Micron (MU) with a $150 price target ahead of the fiscal Q2 report on March 20. The analyst expects the company to post “decent results but guide below consensus, driven by worse consumer mix and NAND underutilization charges. However, mainstream DDR5 spot pricing is inflecting up, as pricing is higher nearly 8% year-to-date, the largest increase since Q1 of 2024, and this supports the belief that DRAM pricing should improve beginning in Q2. the analyst tells investors in a research note. Citi remains optimistic on Micron.
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