KeyBanc Sees Micron (MU) in a ‘Different’ Memory Cycle, Raises Target

Core Viewpoint - Micron Technology, Inc. is experiencing a favorable outlook with a price target increase to $450 from $325, indicating a belief in a stronger and longer memory cycle [1][3]. Group 1: Analyst Insights - KeyBanc analyst John Vinh raised the price target for Micron Technology to $450, maintaining an Overweight rating, reflecting confidence in the company's performance [1]. - Analysts believe the current memory cycle is structurally different and will last longer, with Greenfield capacity not expected to come online until mid-2027 at the earliest [2][3]. - The firm's revenue and EPS estimates for FY27 are projected at $94.4 billion and $45.20, respectively, which are significantly above consensus estimates of $89.6 billion and $40.88 [3]. Group 2: Company Overview - Micron Technology develops and sells memory and storage products for various applications, including data centers and mobile devices, across multiple industries globally [3].