Raymond James Raises Micron Price Target to $190

Raymond James analyst Melissa Fairbanks raised the price target on Micron Technology (NASDAQ: MU) to $190 (from $150) while maintaining an Outperform rating.

“We reiterate our Outperform rating on Micron and raise our price target to $190 following strong August quarter results.

Not surprisingly, AI datacenter builds are driving an uptick in demand average content, and providing strong pricing support for both DRAM and NAND – led by continued mix shift toward higher-value HBM adoption.

Importantly, management expects industry bit supply to continue to lag behind overall growth, helping to ensure favorable industry conditions through FY26.

With a number of secular growth drivers outside of the datacenter – including increasing auto content and higher capacity memory in recent smartphone refreshes – we see room for upward estimate revisions through the next fiscal year.”

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