Micron (MU) Stock: Top Analyst Sees 60% Upside as Memory Supply Stays Tight Through 2027
TLDR
- Mizuho analyst Vijay Rakesh maintained an Outperform rating on MU with a $1,375 price target, implying 60% upside from current levels
- MU has dropped 12% over the past month, trading around $857, well below its June peak above $1,200
- Rakesh says fears about Chinese competitor CXMT are overblown, with any real supply impact not expected until 2028
- Micron posted $25.11 EPS and $41.46 billion in revenue last quarter, up 345.8% year over year
- Street consensus is Strong Buy with an average price target of $1,569.07, implying over 84% upside
Micron Technology (MU) is trading around $857, down roughly 12% over the past month and well off its late June peak above $1,200. The selloff has been driven by investor concern over whether the chipmaker can maintain its elevated gross margins going forward.
Mizuho’s Vijay Rakesh, a 5-star rated analyst, isn’t buying the pessimism. He reiterated an Outperform rating and kept his $1,375 price target in place after a meeting with Micron executives. That target implies around 60% upside from where the stock sits today.
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