Micron Technology stock surged 17% after UBS raised its 12-month price target by over 200% to 1,625 USD.
Micron Technology (MU) shares jumped to a record 879.13 USD, up more than 17%, following a bullish analyst report. UBS analyst Timothy Arcuri maintained a buy rating on MU and increased the 12-month price target to 1,625 USD from 535 USD, a 204% hike.
Prior to the upgrade, Micron’s stock had traded below 750 USD. The revised target reflects renewed optimism in the memory-chip sector amid improving demand forecasts. No immediate market reaction beyond the stock’s surge was reported.
The Dow Jones and Nasdaq showed modest gains on Tuesday, driven by broader geopolitical developments, though Micron’s rally stood out as a key mover.