STOCKS | BofA Securities Raises Micron Target Price to $1,550 and Reiterates Buy Rating

BofA Securities raised its target price for Micron to $1,550 from $1,500 and reiterated a “buy” rating after the company reported quarterly results the firm described as strong. According to Odaily, BofA Securities said Micron’s performance reinforced its constructive view of the company’s role in AI-related memory, and it cited increasing supply-side discipline as supportive of a more durable cycle. The report said Micron now has 16 strategic customer agreements, which it said may moderately limit near-term pricing upside. It added that aligning with customers facing rising memory costs could improve visibility and reduce volatility, noting that memory costs account for about 35% of AI capital expenditures. BofA Securities also raised its future annual earnings-per-share forecasts for Micron by 4% to 7%, and said its higher target price was based on a sum-of-the-parts valuation approach.