Micron shares should continue to outperform, says JPMorgan

JPMorgan maintains an Outperform rating on Micron Technology with a $180 price target saying the company reported better than expected August quarter results. The stock should continue to outperform through 2024 and into 2025 as the market continues to discount improving revenue, margin and earnings power on top of “strong positive” earnings revisions, the analyst tells investors in a research note. The firm believes accelerating high bandwidth memory and artificial intelligence mix along with favorable industry dynamics to continue into 2025 for Micron.