Piper Sandler Micron · MU

Piper Sandler Raises Micron Price Target to $400

Analyst: Harsh Kumar 1 min read Reproduced verbatim
Rating
Overweight
Target
$400
from $275 (+45%)
Outcome
Reached
on January 27, 2026
Piper Sandler and Micron logos

What the analyst said

Piper Sandler analyst Harsh Kumar raised the price target on Micron Technology (NASDAQ: MU) to $400.00 (from $275.00) while maintaining an Overweight rating.

“Supply Tightness to Support Pricing Throughout 2026: As previously stated, supply for calendar 2026 is effectively sold out, with limited ability to add capacity.

Management noted pricing for high value products, such as HBM4, will be value derived. We continue to view the company as extremely well positioned as demand should continue to outstrip supply.

Overall, Micron appears to be extremely well-positioned throughout 2026 and, to some degree, beyond. All incremental signals point to a strong 2026. We reiterate our Overweight rating.”

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 $656. 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 $400 target is 74% below the median, the lowest on the Street.

Since the note MU has moved +91% (from $343). 12-month window: day 302 of 365, closes on January 7, 2027.

Track record

This call✓ Target reached on January 27, 2026, 20 days after the note.

Firm track recordPiper Sandler: 79% of its 38 targets at least a year old were reached within 12 months (#15 of 26 firms); on Micron, 3 of 3. Accuracy ranking →

Piper Sandler on Micron

Piper Sandler price targets on Micron

6 calls from March 21, 2025 to January 7, 2026. The target went from $120 to $400 (+233%). The rating stayed Buy.

Piper Sandler targetMU share price
  1. January 7, 2026 This noteTarget raised from $275 (+45%)Buy$400
  2. December 18, 2025Target raised from $200 (+38%)Buy$275
  3. November 17, 2025Kept the $200 targetBuy$200
  4. September 24, 2025Target raised from $165 (+21%)Buy$200
  5. June 26, 2025Target raised from $120 (+38%)Buy$165
  6. March 21, 2025Earliest call shownBuy$120
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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
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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.