CLSA Initiates Micron at Outperform, $155 Price Target
- Rating
- Buy
- New coverage
- Target
- $155
- First target
- Outcome
- Reached
- on September 12, 2025
What the analyst said
CLSA analyst Sanjeev Rana initiates coverage on Micron Technology (NASDAQ: MU) with a Outperform (2) rating and a price target of $155.
“Micron is well-positioned to capitalise on the demand for high bandwidth memory (HBM) from AI customers and to benefit from the healthy demand-supply balance in DRAM in 2H25-2026.
The supply of conventional DRAM will remain constrained due to suppliers’ focus on HBM.
In NAND, demand from cloud hyper-scalers for eSSDs is in its early stages of a recovery, even as the suppliers remain disciplined with Capex and production.
We initiate coverage with an Outperform rating and a target price of US$155 based on a 2.4x FY26CL book.”
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.
This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.
Where the price stands
MU trades at $690. The 27 analysts who set a target in the last 3 months range from $1,200 to $3,000, with a median of $1,540. This $155 target is 90% below the median, the lowest on the Street.
Since the note MU has moved +492% (from $117). The 12-month window closed on August 27, 2026.
Track record
This call✓ Target reached on September 12, 2025, 16 days after the note.
Firm track recordToo early to score CLSA: price targets are 12-month calls and fewer than 5 of its targets are a year old. 3 of its 9 open targets have already been reached. How we score
CLSA on Micron
CLSA price targets on Micron
3 calls from August 27, 2025 to October 2, 2026. The target went from $155 to $1,700 (+997%). The rating stayed Buy.
- October 2, 2026Target raised from $190 (+795%)Buy$1,700
- September 24, 2025Target raised from $155 (+23%)Buy$190
- August 27, 2025 This noteEarliest call shownBuy$155
Other analysts on Micron
Bank of AmericaBuy
Kept rating · Oct 26
DA DavidsonBuy
Kept rating and price target · Oct 22
$3,000maintained
CantorBuy
Kept rating and price target · Oct 20
$2,000maintained
DA DavidsonBuy
Raised price target +43%, kept rating · Oct 7
$3,000from $2,100
BairdBuy
Kept rating and price target · Oct 2
$1,520maintained