Mizuho Raises Micron Price Target to $480
Mizuho analyst Vijay Rakesh raised the price target on Micron Technology (NASDAQ: MU) to $480.00 (from $390.00) while maintaining an Outperform rating.
“We continue to see pricing tailwinds in legacy DRAM/NAND markets, driving better topline and margins into 2026E.
Key points: 1) NO NEW NAND wafer capacity in 2026E/2027E while NAND demand expands to >20% y/y, 2) Annualized NAND pricing estimated up 330% y/y in 2026E and raising 50% y/y in 2027E with tight supply as AI server demand accelerates, 3) NVDA ICMSP (Ex-3) could add 16TB/GPU for KVCache driving inference and GPU utilization… For MU, we are taking our estimates for F26E to 14% above cons. and F27E to 23% above consensus.”
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