From BigGo Finance · BigGo Finance · · 1m 20s
Goldman Sachs: Micron Stock Slide Offers 70% Upside
Goldman Sachs says Micron's 17% drop makes stock too cheap, with 70% upside potential.
In brief
Goldman Sachs says Micron's 17% drop makes stock too cheap, with 70% upside potential. Goldman Sachs analyst James Schneider sees 70% upside for Micron Technology stock after 17% slide, citing strong free cash flow and approaching tangible book value. Originally reported by BigGo Finance.
Micron stock drops 17% in month
Micron Technology shares fell about 17% in the past month due to concerns over Democratic midterm election wins potentially tightening AI data center construction limits.
Goldman Sachs keeps Neutral rating
Goldman Sachs analyst James Schneider maintained a Neutral rating on Micron while reaffirming a $1,250 price target, implying roughly 70% upside from recent trading.
Strong free cash flow boost
Micron posted record quarterly revenue of $54.23 billion and $33.2 billion in adjusted free cash flow, with guidance for $61.5 billion in fiscal Q1 2027 revenue.
Stock near tangible book value
The stock is approaching tangible book value, trading at about 4.2 times forward earnings, suggesting a discount for investors.
Analysts remain positive
Analysts hold a Strong Buy consensus with an average price target of $1,624.42, representing about 130% upside from current levels.
Market debate on memory prices
The debate hinges on whether the memory upcycle has staying power, with Wall Street expecting 17% earnings growth and Micron's free cash flow providing a buffer.
The takeaway
Goldman Sachs analyst James Schneider sees 70% upside for Micron Technology stock after 17% slide, citing strong free cash flow and approaching tangible book value.
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