Micron Target Raised to $500 After Strong Q1 Earnings Beat
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Rosenblatt Securities analyst Kevin Cassidy raised Micron's price target to $500, maintaining a Buy rating after strong Q1 earnings. Micron's adjusted profits were $4.78 per share, surpassing expectations, with revenue up 56.6% to $13.64 billion. Cassidy predicts steady demand for memory chips until 2027, with non-GAAP gross margins reaching 68% in the February quarter. Micron's shares have risen 196% this year, with strong demand for AI and data centers.
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