Piper Sandler lowered the firm’s price target on Micron (MU) to $120 from $150 and keeps an Overweight rating on the shares following Q1 results. The firm noted that Q2 guidance was well below expectations and cites inventory corrections across consumer-oriented end markets particularly in NAND for the miss. However, Piper told investors that Micron’s high-bandwidth memory story remains intact as the company has positioned itself to capitalize on market expansion opportunities from data center investments in 2025. The firm added that it likes Micron’s positioning.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MU:
- Morning Movers: Lamb Weston tanks after second quarter results and CEO change
- Notable open interest changes for December 19th
- TD cuts Micron target, says not guidance ‘not thesis-changing’
- Micron price target lowered to $125 from $140 at Wedbush
- Micron price target lowered to $115 from $135 at Mizuho