Susquehanna Raises Micron Price Target Significantly to $1750

BlockBeats News, May 29th, Susquehanna's Wall Street quant trading analyst Mehdi Hosseini significantly raised Micron's (MU) price target from $600 to $1,750 and maintained a "Positive" rating.

Hosseini stated that channel checks indicate Micron's average selling price for DRAM in Q2 is expected to increase by 50%-60% QoQ, higher than the market's previous expectation of 50%; NAND's average selling price is expected to remain flat to up in the 75%-100% range QoQ. Based on confidence in the sustained strength of storage product prices and profitability, Susquehanna has raised earnings forecasts for the covered storage companies.

According to Bitget data, Micron Technology (MU) rose by 3.39% today, trading at $955.67.