Bernstein Upgrades Micron Target to $85 as DRAM Prices Jump 15%
MU•Bernstein Research upgraded its semiconductor sector rating to overweight and lifted Micron’s price target to $85, citing DRAM contract prices up roughly 15% and NAND flash prices rising 12% year-over-year. Analysts now forecast memory revenue growth of about 25% in H2 2026, driven by improving supply-demand balances.
1. Bernstein Upgrades Sector Rating
Bernstein Research raised its semiconductor sector rating to overweight and increased Micron’s price target to $85, reflecting renewed confidence in memory stocks. The firm highlighted improving fundamentals and stronger-than-expected demand for DRAM and NAND products.
2. DRAM and NAND Price Trends
DRAM contract prices climbed approximately 15% year-over-year, while NAND flash pricing rose 12% over the same period. These sequential gains stem from constrained supply following prior factory downtime and rising consumption in data centers and consumer electronics.
3. Revised Revenue and Earnings Outlook
Analysts now project Micron’s memory revenue to grow roughly 25% in the second half of 2026, up from previous 10% estimates. Improved pricing and volume mix are expected to bolster gross margins and support higher earnings per share in the next two quarters.
