MU and SNDK are ‘Just Unbelievable’ Bargains as Mizuho Reiterates Bullish Stance on Memory Stocks - Micro
Mizuho reiterated 'Outperform' ratings for memory stocks, including Micron (MU) and SanDisk (SNDK), citing undervaluation and long-term supply shortages. MU's price target was lowered to $1,300 (39.4% upside), while SNDK's target was adjusted to $1,875 (28% upside) with projected EPS growth. Bank of America also maintained a 'BUY' rating for SK Hynix (SKHY), expecting tight supply and stable ASPs.
How this was made
The 30-second read
Why it matters
Analyst price target revisions and sector‑wide bullish stance could trigger short‑covering and new buying.
Market read
Analyst upgrades on memory chips may lift sector performance and influence related equities.
What to watch
Macro demand slowdown or pricing pressure could temper the bullish thesis.
Background
Analyst coverage updates on key memory stocks amid ongoing DRAM shortage.
Ticker impact
Mizuho lowered MU price target to $1,300, citing 39% upside and tight DRAM supply.
upward pressure toward $1,300 target
Analyst upgrade with specific upside estimate.
Mizuho kept Outperform on SNDK, set $1,875 target, forecasting 5x EPS growth 2026‑2028.
upward move toward $1,875
Strong earnings outlook and buy‑back potential.
Mizuho listed LRCX as undervalued in its memory sector bullish call.
slight upside potential
Included in sector‑wide undervaluation thesis.
Mizuho cited AMAT as undervalued amid memory shortage.
potential modest gain
Broad sector call without specific target.
BofA maintained BUY on SK Hynix ADR, price objective 3,000,000 KRW, citing 75% upside and tight supply.
upward pressure toward target
Strong analyst endorsement with sizable upside.
Market effects
Memory chip sector may see broader rally as analysts flag undervaluation.
U.S. and Asian memory manufacturers could benefit from supply‑tightness narrative.
Potential cross‑regional buying pressure on semiconductor equities.
Counterpoint
If supply constraints ease faster than expected, upside may be limited.
Key entities
- analystNicholas Mugalli
Head of TMT Credit & Equity Research at World Trade Securities.
- investment bankMizuho
Provided updated price targets and Outperform ratings.
- investment bankBank of America
Issued BUY rating and price objective for SK Hynix.
