BMO Capital initiated coverage on Micron Technology with an outperform rating on August 27, 2026. The firm set a price target of $1,300 for the memory chip maker. Mizuho also maintained its outperform rating with a $1,300 target, despite slightly lowering its estimate.
Micron reported quarterly revenues of approximately $41.5 billion. This figure represents a year-over-year increase of more than 345%. The company will release its fiscal fourth-quarter results on September 30.
Analysts attribute the growth to Micron's strategic position in the high-bandwidth memory market. These components are critical for AI data centers where demand currently outpaces supply.