Cantor Fitzgerald reiterates Micron stock rating on supply outlook

Cantor Fitzgerald has maintained an Overweight rating and set a $2,000 price target for Micron Technology (NASDAQ:MU) stock, citing supply dynamics and valuation. The firm believes Micron is undervalued, with an EXCELLENT financial health score, and shares are trading at 5.6 times and 4.5 times estimates. Management expects supply shortages for memory and storage to continue through fiscal years 2027 and 2028, with over 75% of 2027 output already committed through supply chain agreements.

Cantor Fitzgerald is optimistic about Micron's prospects, despite some margin challenges, and notes the company's strong bit growth and increased average selling prices.

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