Overview

• Micron shares rose roughly 8% to 9% Thursday after Citi raised its price target to $175 and reiterated a buy rating.
• Citi forecasts fiscal Q4 adjusted EPS of about $2.62 on revenue near $11.2 billion and expects guidance to land well above consensus.
• Micron last month increased its own Q4 outlook to $11.2 billion in revenue and $2.85 adjusted EPS at the midpoint.
• The bullish call cites a memory upturn fueled by limited production and stronger DRAM and NAND demand from data-center and AI workloads.
• Recent results showed HBM revenue up nearly 50% sequentially and data-center revenue more than doubling year over year, while some commentators caution about valuation and the sector’s cyclical risk.