Micron price target lowered to $145 from $180 at JPMorgan

JPMorgan lowered the firm’s price target on Micron (MU) to $145 from $180 and keeps an Overweight rating on the shares. The company reported in-line November quarter revenue while earnings were modestly above expectations as robust DRAM bit shipments and a high-single-digit improvements in DRAM pricing offset weakness in NAND bit shipments and pricing, the analyst tells investors in a research note. However, the firm says Micron’s February quarter revenue was guided down 9% quarter-over-quarter and came in well below expectations as excess inventory and sluggish demand across consumer facing end markets are anticipated to be a substantial headwind to NAND bit shipments. JPMorgan cut estimates but believes the stock setup for the second half of 2025 remains positive.