AI Generated Image
Wall Street analyst sets Micron stock price target
Finbold • • business
Key Points:
- TD Cowen reaffirmed its ‘Buy’ rating on Micron Technology with a $1,600 price target, implying a 63% upside from the current stock price, citing sustained demand and supply constraints expected beyond 2027.
- The firm highlighted Supply Constrainment Agreements (SCAs) that secure customer access to memory products and provide Micron with long-term revenue visibility, potentially covering nearly 50% of the company’s revenue.
- Strong demand persists for DRAM, NAND, and high-bandwidth memory driven by AI infrastructure spending, with industry checks indicating a possible 15%+ increase in average selling prices this quarter.
- Micron’s Q3 2026 results showed a 346% year-over-year revenue increase to $41.46 billion and adjusted EPS of $25.11, surpassing expectations, while management forecasted Q4 revenue around $50 billion.
- The company is expanding its U.S. manufacturing investment to $250 billion through 2035 to boost domestic DRAM capacity and meet growing AI memory demand, reinforcing its position amid a bullish Wall Street consensus.
