Micron Stock Price: $120 Target (Up From $110) By RBC Capital

By Amit Chowdhry ● April 5, 2021
  • The shares of Micron Technology, Inc. (NASDAQ: MU) have received a price target increase from $110 to $120 by RBC Capital. These are the details.

The shares of Micron Technology, Inc. (NASDAQ: MU) have received a price target increase from $110 to $120 by RBC Capital. And RBC Capital analyst Mitch Steves is maintaining an “Outperform” rating on the company shares following its Q2 earnings report and positive guidance.

The midpoint of the sales outlook was at the higher end of Steves’ expectations. And the company’s profits have been expanding rapidly. Plus Micron is continuing to see high demand from hyper scale companies and enterprise demand has been continuously improving as well.

So Steves boosted the FY21 EPS view by $0.37 to $5.30 and the FY22 view by $0.25 to $10. 

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.