Three firms raised Micron’s price targets following a Q3 beat and improved visibility in the memory cycle.
DA Davidson raised its Micron (MU) price target to $2,000 from $1,500, citing the company’s Q3 earnings beat and unprecedented visibility in the semiconductor market. The firm noted Micron’s shift from historical volatility to a period of strong forward-looking commentary, signaling a sustained memory cycle upturn.
Deutsche Bank and Wedbush also increased their targets to $1,550 and $1,400, respectively, after the report exceeded expectations. Deutsche Bank called the quarter “stunning,” highlighting revenue and gross margins at “extraordinary levels,” while Wedbush emphasized long-term contracts securing future bit output.
The upgrades reflect confidence in Micron’s pricing power and demand outlook, particularly in AI-driven memory markets.