Lawsuit Threatens Micron’s $100B Syracuse Fab as Wedbush Raises Price Target to $500
Micron faces a lawsuit from Jobs to Move America over a rushed environmental review of its planned $100 billion Syracuse megafab, risking further delays after two years of setbacks; Wedbush raised its price target on the stock to $500, citing stronger-than-expected DRAM and NAND pricing with ASP gains nearing triple digits.
1. Lawsuit Could Delay $100B Syracuse Megafab
An activist group has sued to force further environmental review of Micron’s planned Syracuse campus, which is expected to host up to four fabs and create 50,000 jobs. The challenge follows roughly two years of setbacks and could push back construction timelines despite $6.1 billion in federal grants, $7.5 billion in loans and $5.5 billion in state incentives.
2. Wedbush Raises Price Target to $500
Wedbush analysts boosted Micron’s price target to $500 from $422, citing first-quarter DRAM and NAND contract pricing that outpaced the company’s 30% ASP guidance, with some deals approaching triple-digit gains. The firm projects a 40% rise in Q2 pricing and 25% in Q3, applying a 5X multiple to 2027 EPS estimates plus net cash.