Investing.com -- Bank of America reiterated a Buy rating and $1,550 price target on a key memory stock in a note on Tuesday, telling investors the recent pullback is an "enhanced buying opportunity" rather than a reason for concern. BofA analyst Vivek Arya acknowledged that memory prices and margins "will inevitably normalize at some point," particularly as new capacity arrives from mid-2027 through 2028. BofA added that the current stock discounts that bear case at roughly 8 to 9 times earnings, assigning little value to Micron's HBM and AI businesses. BofA argued China's CXMT is still "not a threat in AI," as it primarily serves commodity DRAM rather than high-bandwidth memory. Related articlesBofA sees an "enhanced buying opportunity" in this memory stockIntuit cut to Hold at Truist on softening growth outlook; shares dipDeutsche Bank lifts Palantir to Buy after "exceptional" Q2