In a significant boost for Micron Technology, leading financial institutions Morgan Stanley and Deutsche Bank have independently raised their price targets for the semiconductor giant. This move reflects a growing optimism surrounding the memory market, driven by factors such as escalating DRAM prices, ongoing supply constraints, and the promising trajectory of High Bandwidth Memory (HBM) technology. These revised forecasts underscore a strong belief in Micron's capacity to capitalize on favorable industry trends and deliver substantial growth in the coming quarters.
On February 11, Morgan Stanley adjusted its price target for Micron Technology, Inc. (NASDAQ:MU) from $350 to $450, while reaffirming its 'Overweight' rating. The firm attributed this upward revision primarily to the continuous rise in DRAM prices and persistent supply shortages. Notably, Morgan Stanley highlighted that DDR5 spot prices have already surged by 30% year-to-date, now standing at an impressive 130% higher than contract prices observed in January.
Similarly, on February 10, Deutsche Bank also elevated its price target for Micron Technology, Inc. (NASDAQ:MU), moving it from $300 to $500, and maintained its 'Buy' rating. Deutsche Bank's analysis emphasized the tight supply and demand conditions prevalent in the memory market, which it believes will significantly benefit Micron in the near future. The firm expressed confidence in Micron's ability to leverage the burgeoning growth in High Bandwidth Memory (HBM) and the overall positive shifts within the memory market. Consequently, Deutsche Bank revised its calendar year 2026 earnings per share estimate for Micron to $46.50, reflecting a robust earnings outlook.
Micron Technology, Inc. (NASDAQ:MU) is renowned as a prominent semiconductor technology enterprise, recognized for its innovative contributions to memory and storage solutions. The company's comprehensive product portfolio includes high-performance DRAM, NAND, and NOR memory and storage products, which are critical components across various technology sectors.
The recent upward revisions in price targets by major financial institutions like Morgan Stanley and Deutsche Bank highlight a robust and optimistic outlook for Micron Technology. These adjustments are primarily fueled by a favorable market environment characterized by increasing demand for memory products, tight supply, and the anticipated expansion of high-bandwidth memory applications. Such positive endorsements from leading banks suggest a strong belief in Micron's strategic positioning and its potential to achieve significant financial milestones in the foreseeable future.