TD Cowen lowered the firm’s price target on Micron (MU) to $125 from $135 and keeps a Buy rating on the shares. The firm says perhaps what was most surprising is not Micron’s guidance, but the stock reaction given the “well-understood weakness” in near-term memory pricing. It believes the guidance is “not thesis-changing.” TD sees 2026 as a growth year for Micron and notes commentary on high-bandwidth memory was what it was hoping for.
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