KeyBanc Micron · MU

KeyBanc Raises Micron Price Target to $325

December 18, 2025 Analyst: John Vinh 1 min read Reproduced verbatim
Rating
Buy
Target
$325
from $215 (+51%)
Outcome
Reached
on January 6, 2026
KeyBanc and Micron logos

What the analyst said

KeyBanc analyst John Vinh raised the price target on Micron Technology (NASDAQ: MU) to $325 (from $215) while maintaining an Overweight rating.

“MU reported strong F1Q (Nov) results and F2Q (Feb) guidance, which significantly exceeded expectations.

Outsized demand for AI/Data Center is driving a super cycle in memory with demand exceeding supply as F1Q DRAM/ NAND pricing increased +20% q/q/mid-teens % q/q.

MU noted it expects DRAM/ NAND demand to exceed supply through CY26 with q/q growth through the year.

Additionally, mgmt remains confident regarding HBM4 and indicated it is sold out of HBM with negotiated volume and pricing for all of CY26.

As such, we’re encouraged with these strong results and are raising ests and our PT to $325.”

Disclaimer
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 $896. 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 $325 target is 79% below the median, the lowest on the Street.

Since the note MU has moved +297% (from $226). 12-month window: day 306 of 365, closes on December 18, 2026.

Track record

This call✓ Target reached on January 6, 2026, 19 days after the note.

Firm track recordKeyBanc: 80% of its 10 targets at least a year old were reached within 12 months (#18 of 28 firms); on Micron, 2 of 2. Accuracy ranking →

Earnings reactionOne of 17 notes after Micron’s Dec 17 results: 14 of 17 raised targets. See every call →

KeyBanc on Micron

KeyBanc price targets on Micron

8 calls from June 26, 2025 to July 20, 2026. The target went from $160 to $1,750 (+994%). The rating stayed Buy.

KeyBanc targetMU share price
  1. July 20, 2026Kept the $1,750 targetBuy$1,750
  2. July 14, 2026Target raised from $1,600 (+9%)Buy$1,750
  3. June 25, 2026Target raised from $600 (+167%)Buy$1,600
  4. March 19, 2026Target raised from $450 (+33%)Buy$600
  5. January 13, 2026Target raised from $325 (+38%)Buy$450
  6. December 18, 2025 This noteTarget raised from $215 (+51%)Buy$325
  7. September 24, 2025Target raised from $160 (+34%)Buy$215
  8. June 26, 2025Earliest call shownBuy$160
Share

Other analysts on Micron

DA DavidsonBuy Raised price target +43%, kept rating · Oct 7 $3,000from $2,100 BairdBuy Kept rating and price target · Oct 2 $1,520maintained CLSABuy Kept rating and price target · Oct 2 $1,700maintained Freedom BrokerBuy Kept rating and price target · Oct 1 $1,600maintained BernsteinBuy Kept rating and price target · Oct 1 $1,300maintained
Share on
Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.