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<Research>M Stanley Raises Micron TP to USD1,050, Lifts Sandisk TP to USD1,750; Memory Supply Woe Seen Lasting at Least 2-3 Yrs
Recommend 23 Positive 29 Negative 27 |
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Morgan Stanley published a report raising its revenue and earnings forecasts for Micron Technology, Inc. (MU.US) and Sandisk Corporation (SNDK.US), and sharply lifted their TPs. Micron's TP was raised from USD520 to USD1,050, while Sandisk's TP was increased from USD1,100 to USD1,750. Both are rated Overweight. Morgan Stanley said memory chip stocks performed strongly in 2025 and will continue to lead the market in 2026, yet it believes this strong run is not yet over. Morgan Stanley noted, as highlighted in its global report today (3rd) and its Taiwan field study report earlier this week, that there is no quick fix to the memory shortage. This is expected to keep memory supply tight for 2-3 years (or longer). The shortage is most severe in DRAM, but NAND Flash is also affected. The market is beginning to recognize the implications for earnings sustainability, with Micron's consensus forward P/E expanding from 4x at end-March to 11x. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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