---
title: "On the eve of Micron Technology's financial report release, Wolfe Research and Citigroup maintained their bullish ratings and raised their target prices"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/207076676.md"
description: "Micron Technology is set to announce its third-quarter results on June 26th. Investment banks Wolfe Research and Citigroup have maintained their bullish ratings and raised their target prices. Wolfe Research has raised its target price from $150 to $200, citing strong performance expectations for the company. Citigroup has also raised its target price from $150 to $175, anticipating that the company will report results and guidance above market expectations. UBS has also maintained a \"buy\" rating on Micron Technology, believing that the overall pricing of the DRAM and NAND industry remains high. Bank of America Securities has reiterated a \"buy\" rating and raised its target price from $144 to $170, expecting the company to be a major beneficiary of the rising market share in the HBM market"
datetime: "2024-06-24T12:54:06.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/207076676.md)
  - [en](https://longbridge.com/en/news/207076676.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/207076676.md)
---

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# On the eve of Micron Technology's financial report release, Wolfe Research and Citigroup maintained their bullish ratings and raised their target prices

According to the Zhitong Finance and Economics APP, Micron Technology (MU.US) will announce its third-quarter performance for the 2024 fiscal year after the US stock market closes on June 26 (Wednesday). Prior to the release of Micron Technology's financial report, both Wolfe Research and Citigroup have maintained a bullish rating on the stock.

**Wolfe Research maintains a "hold" rating on Micron Technology, with the target price raised from $150 to $200.** Analysts at the firm pointed out that they have raised their expectations for the company's performance due to the favorable conditions in the storage industry and their optimistic outlook on the company's High Bandwidth Memory (HBM) business.

However, analysts added that the recent performance of Micron Technology is not the sole reason for their bullish view on the stock. Analysts believe that all memory suppliers have been working to limit supply recently to avoid customers building inventory before expected price increases. Analysts expect the company's earnings per share to reach $20 in the 2025/2026 fiscal year, with HBM contributing around $3.

Meanwhile, **Citigroup reiterated a "buy" rating on Micron Technology and raised the target price from $150 to $175.** The firm's analysts expect the company to announce performance and guidance above market expectations, given the improvement in its DRAM business and the increasing exposure in HBM. Analysts believe that due to the company's exposure in the field of artificial intelligence, the stock price should continue to be above its historical range.

It is worth mentioning that earlier this month, UBS also maintained a "buy" rating on Micron Technology. The firm pointed out that industry surveys indicate that overall pricing for DRAM and NAND remains high. Bank of America Securities reiterated a "buy" rating on Micron Technology, raising the target price from $144 to $170, and noted that the company will be a major beneficiary of the increasing market share in HBM

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