POPA Recon[Citi Micron target stock price lowered]
[Citi Micron target stock price lowered] • Investment opinion maintained at Buy, target price lowered from $1,400 → $1,150 • The decline in FY27/FY28 EPS forecasts is minimal at -1%/-2%, respectively. • On the other hand, the applied PER was lowered by 20% from 10 times to 8 times. • The reason is not the ‘fall’ of DRAM/NAND prices themselves, but the peak of price upward momentum • The forecast for the second half of 2027 is DRAM -3%, NAND -5%, and a price collapse is not currently assumed. • Increased production of CXMT/YMTC is a mid- to long-term risk
The excerpt is quoted from a public Telegram channel, which owns its text.