Six Banks Hike Micron Price Targets to $1,200–$1,500 on AI DRAM Shortage
MU•Deutsche Bank raised Micron’s price target 50% to $1,500 from $1,000 ahead of its June 24 earnings, and TD Cowen, Cantor Fitzgerald, RBC Capital and Wolfe Research lifted targets to $1,200–$1,500. Analysts cite AI-driven DRAM demand outpacing supply into 2028, underpinning sustained pricing for the only US AI memory maker.
1. Banks Lift Price Targets
Deutsche Bank raised Micron’s price target 50% to $1,500 from $1,000 ahead of its June 24 earnings, while TD Cowen, Cantor Fitzgerald, RBC Capital and Wolfe Research lifted theirs to between $1,200 and $1,500, reflecting bullish consensus on memory pricing.
2. AI-Driven DRAM Demand
Analysts point to AI-driven DRAM usage growing faster than production capacity, as large language model training and inference workloads require high-bandwidth memory at scale, boosting demand for Micron’s DRAM chips.
3. Prolonged DRAM Supply Shortage
The DRAM shortage is projected to persist through 2028, supporting elevated chip prices and positioning Micron, as the only US AI memory maker, to capture sustained profit margins from constrained supply.
