Intelligent Finance APP learned that Zheshang Securities released a research report stating that considering the comprehensive layout of software and hardware facilities and internal growth-driven factors, it is expected that Xiamen Xiangyu (600057.SH) will have a net profit attributable to the parent company of 1.211 billion yuan, 1.435 billion yuan, and 1.683 billion yuan from 2020 to 2022, with year-on-year increases of 9.50%, 18.46%, and 17.35%, respectively, corresponding to EPS of 0.56 yuan, 0.66 yuan, and 0.78 yuan. From a growth perspective, the company's compound annual growth rate of net profit attributable to the parent company from 2020 to 2022 is 17.90%, and the PEG of the corresponding 2021E PE is 0.52, which is significantly lower than the valuation relative to the growth. Zheshang Securities believes that the reasonable valuation of the company is around 15 times PE, the reasonable market cap of the 2021 net profit attributable to the parent company is about 21.5 billion yuan, and the relative price still has about 58% room for growth. The first coverage is given a "buy" rating.$Micron Technology (MU.US)$Post-market trading on Wednesday, June 26, will announce the performance of the third quarter of the 2024 fiscal year. Prior to the announcement of the financial report by Micron Technology, the investment banks of Wolfe Research and Citigroup have both maintained a call rating on the stock.

Wolfe Research maintains a shareholding rating on Micron Technology and raised its target price from $150 to $200. The bank analyst pointed out that they have raised their expectations for the company's performance because the storage industry is in good condition and they are optimistic about the company's high-bandwidth memory (HBM) business.

However, analysts added that Micron Technology's recent situation is not the reason why they have always been bullish on the stock. Analysts believe that all memory suppliers have been working to limit supply in recent period to avoid building inventory before an expected price increase. Analysts expect the EPS of the stock to rise to $20 by FY2025/2026, with HBM contributing about $3.

At the same time, Citigroup reiterated its buy rating on Micron Technology and raised its target price from $150 to $175. The bank's analyst expects that due to the improvement of the company's DRAM business and the increasing exposure in HBM, the company will announce better-than-expected performance and guidance. Analysts believe that as long as the company has exposure in the field of artificial intelligence, the stock price should continue to be higher than its historical range.

It is worth mentioning that earlier this month, UBS Group also maintained a buy rating on Micron Technology. The bank cited industry surveys showing that DRAM and NAND pricing continue to be relatively high. Bank of America Securities reiterated its buy rating on Micron Technology and raised its target price from $144 to $170, and pointed out that the company will be the main beneficiary of the increasing market share in HBM.

Editor/Somer