Citi analyst Christopher Danely says Micron Technology last night reported above consensus results and guidance driven by higher pricing. The stock is selling off due to the “conservative” guidance and higher capex, the analyst tells investors in a research note. The firm would buy the weakness, saying the DRAM upturn thesis remains intact. Citi expects sequentially higher revenue, earnings and gross margins through 2025 for Micron and keeps a Buy rating on the shares with a $175 price target.
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