Micron Technology Stock Jumps on Price Target Increase From Citi

Core Viewpoint - Micron Technology's stock experienced an approximate 8% increase following Citi analysts' upgrade of the price target, driven by rising demand for DRAM chips and the company's involvement in artificial intelligence [1][2][3] Group 1: Price Target and Ratings - Citi analysts raised Micron's price target to $175 from $150 and maintained a "buy" rating on the stock [2][3] - The analysts attribute the price target increase to the ongoing memory market upturn, which is influenced by limited production and stronger-than-expected demand, especially from the data center sector [2][3] Group 2: Earnings Expectations - Micron is set to release its fiscal 2025 fourth-quarter report on September 23, with Citi forecasting adjusted earnings per share of $2.62 and revenue of $11.20 billion, aligning with overall analyst estimates [2] - Citi anticipates that Micron's guidance will exceed expectations, driven by increased sales and pricing of DRAM and NAND products [2] Group 3: Stock Performance - Year-to-date, Micron Technology shares have appreciated nearly 80%, reflecting strong market performance [2]