Micron Technology Price Targets Raised to $300 on Memory Pricing Strength
Dec 18, 2024 - UBS and Wedbush analysts raised their price targets for Micron Technology Inc. (NASDAQ:MU) to $300 USD following improvements in memory industry pricing.
Wedbush analysts adjusted their 12-month target from $220 while maintaining an Outperform rating on the semiconductor and storage solution provider.
The revision follows sharper than expected price increases for DRAM and NAND products, which analysts believe will lead to another earnings beat.
DRAM spot prices saw significant gains in September and October as manufacturers increased rates for smaller customers across the global market.
Micron shares recently traded at $237.50, representing a potential 26.3% upside to the new price targets set by major financial institutions.
The company maintains a market capitalization of approximately $265B with a 52-week trading range between $61.54 and $264.75.
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