CFRA Boosts Micron (MU) Target After Strong Earnings and Memory Growth Outlook

Micron Technology, Inc. (NASDAQ:MU) ranks among the 20 best fast growth stocks to invest in. Following better-than-expected quarterly results, CFRA maintained its Buy rating on Micron Technology, Inc. (NASDAQ:MU) and increased its price target from $117 to $155 on June 26.

One of the main factors driving the company’s growth prospects, according to the firm, is Micron’s increasing exposure to high-bandwidth memory (HBM), which is “a lot less commoditized than other memory businesses.” In the upcoming quarters, CFRA anticipates that cyclical markets such as PCs, automobiles, and industrials would rebound.

In light of the possibility of higher tariffs for the semiconductor sector, CFRA also emphasized Micron’s U.S. expansion initiatives, notably in HBM production, as a possible competitive edge over international competitors.

Micron Technology, Inc. (NASDAQ:MU) is a leading manufacturer of solid-state drives (SSDs), flash memory, and dynamic random-access memory (DRAM), among other memory and data storage products. Being one of the biggest producers of DRAM and NAND flash memory, its components are essential to various electronic devices.

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Disclosure: None.