Wedbush analyst Matt Bryson reiterated an Outperform rating on Micron Technology.
The firm raised its price target to $1,300 from $550. This revision reflects a substantial increase in revenue estimates for upcoming quarters. Earnings per share projections were also significantly upgraded.
Memory pricing for DRAM and NAND chips has increased by double to triple-digit percentages. Wedbush expects robust AI-related demand to continue through 2027. The firm notes a limited risk of oversupply during this period.
Micron is positioned to achieve average selling price increases that exceed the industry average.