Argus Raises Micron Price Target to $540

Argus analyst Jim Kelleher raised the price target on Micron Technology (NASDAQ: MU) to $540.00 (from $320.00) while maintaining a Buy rating.

“Exceptional growth, raising target to $540 • Micron delivered fiscal 2Q26 revenue and adjusted EPS that blew past the high end of management’s guidance ranges and consensus expectations.

Both sales and non-GAAP profits were up in triple-digit percentages year over year. • Micron’s fiscal 3Q26 revenue guidance was $10.2 billion higher than pre-reporting estimates, and profit guidance was nearly double Street expectations. • Growth is being driven by surging prices and AI demand for high bandwidth memory (HBM), along with soaring DRAM volumes, favorable mix, and improved NAND demand. • With demand recovering across multiple end markets and AI solutions driving overall top-line growth, we are reiterating our intermediate-term and long-term BUY ratings on the MU shares and raising our 12-month target price to $540 from $320.”

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