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Micron (NASDAQ: MU) received an upgrade on Wednesday, April 8.
UBS raised Micron's price target from $510 to $535 despite negative sector sentiment.
KEY POINTS
- UBS's industry checks indicate continued pricing strength in both DRAM and NAND, especially HBM.
- Micron is negotiating long-term supply agreements with hyperscalers, including volume commitments and upfront payments.
- UBS projects Micron's 2027 EPS at $135, far above the Street consensus of $103.
- UBS expects Micron's tangible book value to reach $180 per share within a year.
COMPANIES
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