D.A. Davidson Raises Micron's Price Target, Citing Strong AI Demand and Investor Interest
D.A. Davidson has raised its price target for Micron Technology by 43%, from $2,100 to $3,000 per share, while maintaining a 'buy' rating on the stock. The new target implies an 87% upside potential based on Micron's closing price of $1,545.56 as of Tuesday. Analyst Gil Luria noted that investors are still underestimating Micron’s value and expects them to assign higher multiples in time. Micron has surged over 260% year-to-date in 2026 and nearly 460% in the past year, driven by strong demand for memory chips from AI applications. Luria highlighted that increased memory capacity enhances AI performance, leading to sustained high demand expected through at least 2028. The firm also emphasized Micron’s strategy of securing long-term customer agreements tied to half its revenue, which provides stability and reassures investors about the company's future cash flow.
Tickers: $MU
Topics: AI Demand Memory Chips Micron Technology Stock Analysis