Deutsche Bank Raises Micron Price Target to $1,000

Deutsche Bank analyst Melissa Weathers raised the price target on Micron Technology (NASDAQ: MU) to $1,000.00 while maintaining a Buy rating.

“Over the last two weeks, we hosted investor meetings in Europe with Micron’s Satya Kumar, VP Investor Relations and Treasury, and Samir Patodia, Senior Director of Investor Relations.

We came away from meetings with the clear vision that AI is fundamentally changing many of the cyclical dynamics in the memory industry.

Technologically, the value of memory has never been higher, with all layers of the memory hierarchy proving to be critical enablers of performance improvement for AI processors and model output.

Demand for these AI outputs continues to grow at an extraordinary pace, with falling cost-per-token driving greater incentive to expand usage at the core as well as the edge. On the supply side, there remain significant headwinds to bringing incremental capacity online despite the industry’s best efforts (e.g., lack of clean room space, slowing of Moore’s Law, HBM trade ratio).

On top of these industry-wide factors, we believe MU’s superior execution positions the company well to capitalize on these trends (leading technology in both DRAM and NAND, richer business mix, healthiest net cash position in company history).”

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