Erste Group Analyst Upgrades Micron (MU) to Buy, Sees Strong Growth Ahead

Micron Technology, Inc. (NASDAQ:MU) is one of the AI Stocks On Wall Street’s Radar. On August 14, Erste Group analyst Hans Engel initiates coverage on the stock with a Buy rating after having the stock Under Review.

The analyst stated that Micron’s positive update to Q4 guidance was “a significantly better development than previously expected.”

Engel also believed that the stock is “valued favorably in view of the good growth prospects.”

“Micron Technology announced a positive update to its financial guidance for the fourth quarter of fiscal 2025, indicating a significantly better development than previously expected. The revenue forecast was raised to USD 11.2 billion, as was the forecast for the gross margin. It should be around 44.5%. Earnings per share should also be significantly higher at USD 2.5 (+/- USD). Based on the P/E ratio, the stock is valued favorably in view of the good growth prospects.”

A businessman checking a graph, indicating the steady growth of his specialty finance company.

Micron Technology, Inc. (NASDAQ:MU) develops and sells memory and storage products for data centers, mobile devices, and various industries worldwide.

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