Newest Micron (NASDAQ: in) The endorsement came on June 18, when Stifel raised its price target on Micron stock from $550 to $1,500 and reiterated a “buy” rating for the memory chip maker.
Analyst Brian Chen pointed to another major upward shift in artificial intelligence (Amnesty International) which echoed the sentiments of many other Wall Street firms this week.
Chen also noted that the company now designs roughly double the average selling price of DRAM per gigabit compared to what Micron’s initial guidance indicated. Specifically, he stated that the current contract price exceeds $2.5 per gigabit for server RAM and $1.5 per gigabyte for consumer PC and mobile applications.
Likewise, the company expects Micron’s fiscal fourth-quarter revenue to grow 20% quarter-over-quarter, but expects DRAM shipment growth to slow in calendar 2027 after expanding at a low-to-mid 20% pace in 2026.
“We are increasing our estimates well above consensus, PT to $1,500. Our Q3 (May) changes reflect another significant upward shift in Al-driven demand; we are now modeling approximately 2x better for DRAM ASP/Gb (ex-HBM) than initial MU forecasts indicate.” Chen wrote.
Wedbush more than doubles Micron stock price target
On June 17, Wedbush raised its price target on Micron from $500 to $1,300 and reiterated its “outperform” rating, also citing continued demand for AI.
Analyst Matthew S. Bryson increased revenue and earnings per share (EPS) forecasts for the fiscal third quarter and future periods, arguing that demand for AI will extend into 2027 (or even 2028) and seeing little risk of oversupply in the industry over the next 18 months.
The new $1,300 price target is based on a valuation of nine times Wedbush’s fiscal 2027 estimates per share plus net cash, and Bryson noted that the multiple is at the upper end of historical peak cycle valuations.
Overall, the brokerage sees a strong possibility that Micron will outperform its expectations and feels justified in raising its target price on Micron stock despite the stock trading near record levels.
“We reiterate our Outperform rating and raise our PT from $550 to $1,300 with a significant increase in our revenue and EPS estimates (for both fiscal third quarter and third quarter). With the numbers rising, demand for Al appears to remain strong through CY2027 (if not 2028), limited potential for increased supply over the next 18 months, and finally there is a strong possibility that MU will beat our estimates, and we see no reason to shift our positive view on Name” Bresson wrote.
Deutsche Bank sets another price target for the stock at 1,500 microns
On the same day, Deutsche Bank raised its price target for microns from $1,000 to $1,500 while maintaining a “buy” rating. The main catalysts are industry demand and improving fundamentals ahead of the memory chip maker’s earnings report for the May quarter, the bank said.
The brokerage raised its estimates as the chipmaker’s financial outlook has improved since its previous earnings call, and analyst Melissa Weathers now expects May-quarter revenue to reach $35.1 billion, which is even above the high end of the company’s guidance range.
Withers also believes that demand for DRAM modules will significantly outpace supply growth over the coming years, as memory-intensive AI workloads drive consumption. Furthermore, it now expects EPS of $160 for calendar year 2027 and expects gross margins to remain above 80% for the foreseeable future.
“Against this strong fundamental backdrop and with new contracting arrangements strengthening the financials, we see a strong case for upward EPS revisions + a valuation revaluation closer to near-peer multiples. Repeat Buy rating, raise P/E to $1,500.” Withers wrote.
Overall, Deutsche Bank expects the industry’s supply-demand imbalance to persist through the second half of 2026, continue throughout 2027, and extend into 2028. However, it sees significant potential for further upward earnings revisions.
Micron stock price forecast on Wall Street
After the three bullish revisions, Micron has an average 12-month price target of around $1,154, implying a modest upside potential of 1.77%, according to Data Retrieved from Finebold TipRanks On June 19th.
Over the past three months, the stock has been rated a ‘buy’ 27 times and a ‘hold’ twice, meaning it is currently considered a ‘strong buy’.
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