Wedbush, Rosenblatt Double Micron Price Targets as Shares Rise Over 6%
MU•Wedbush lifted its Micron target to $1,300 from $500 and Rosenblatt raised its target to $1,200 from $600, citing strong AI-driven memory demand and limited new wafer capacity. Micron shares jumped over 6% this week to fresh highs as investors await the June 24 earnings report.
1. Analyst Price Target Hikes
Wedbush boosted its Micron target to $1,300 from $500, maintaining an Outperform rating, while Rosenblatt retained its Buy rating and lifted its target to $1,200 from $600, highlighting continued investor confidence ahead of the fiscal third-quarter results.
2. AI-Driven Demand and Supply Dynamics
Sustained demand for DRAM, NAND flash and high-bandwidth memory from AI deployments is driving pricing strength, while constrained new wafer capacity and an unlikely oversupply over the next 18 months support a prolonged upcycle.
3. Stock Performance and Investor Outlook
Micron shares climbed over 6% this week to fresh record highs after warnings of higher memory costs from a major OEM, and investors are focused on the June 24 earnings report for confirmation of robust AI-related revenue growth.
