Citi Raises Micron Price Target to $1,200, Eyes 10x PE on 2027 EPS

According to Citi analyst Atif Malik on June 17, Micron Technology's (MU) target price was raised from $840 to $1,200, maintaining a buy rating. The new target corresponds to 10x forward 2027 EPS, implying potential upside of 17.6% from current levels. Citi also hiked its fiscal 2027 EPS forecast 10% to $114.73, citing price momentum in DRAM and NAND that has exceeded expectations. The 2027 valuation multiple of 10x remains below the three-year peak of 17x, reflecting Citi's confidence in earnings quality. Meanwhile, Deutsche Bank raised its target to $1,500 on the same day. Micron stock has surged 258% year-to-date and 748% over 12 months.
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