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Update: BofA Securities Lifts Price Target on Micron Technology to $1,550 From $1,500, Maintains Buy Rating

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(Updated to include BofA's commentary)

BofA Securities raised its price target on Micron Technology (MU) to $1,550 from $1,500 following its fiscal Q3 results and outlook.

According to the brokerage, the results reinforced its constructive view on memory's role in AI and the increasing supply-side discipline supporting a more durable cycle. It also noted enhanced long-term visibility with 16 strategic customer agreements (SCAs) that have defined pricing terms.

The brokerage views current valuation as compelling at 10% FCF yield and sees a meaningful step-up in capital returns.

Micron Technology has an average rating of buy and mean price target of $1,436.02, according to analysts polled by FactSet.

(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Price: $1148.33, Change: $+100.41, Percent Change: +9.58%

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