D.A. Davidson analyst Gil Luria has raised his price target on Micron Technology to $3,000, arguing investors have not properly priced in the chipmaker's growth trajectory or an upcoming buyback program. Micron shares traded up 1.86%, and Luria says the stock's valuation multiple still does not reflect its true worth.
Micron Technology's stock could triple from current levels, according to D.A. Davidson analyst Gil Luria, who raised his price target on the stock to $3,000. Micron shares traded up 1.86%.
Luria believes investors have not properly accounted for Micron's growth trajectory over the next three to five years, he said. He also points to the impact of an upcoming buyback program that investors have not properly appreciated, he said. The stock's valuation multiple, Luria argues, does not reflect its true worth.
Investors remain early in understanding how to value Micron, according to the analyst.
Source: MarketWatch (snippet-based)
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