TD Cowen Raises Micron Price Target to $1,500
TD Cowen analyst Krish Sankar raised the price target on Micron Technology (NASDAQ: MU) to $1,500.00 (from $660.00) while maintaining a Buy rating.
“Follow the GW Content; Higher DRAM content per 1GW, even after SOCAMM de-specing, along with $150 CY27E EPS, keep us constructive and drive our PT to $1,500.
The incremental change is that CPU demand has increased buyers’ expectations that pricing strength can persist into 2H:C27 vs. prior view of digestion in 1H:C27.
Key focus remains LTAs and whether management provides enough detail to support the re-rating thesis.
View on the stock: If this were a typical DRAM cycle, we would argue that the stock is moving closer to a peak as memory stocks historically peaked 3–8 months before server pricing Y/Y peaks (Fig.2), which we expect around C3Q26.
But the role of memory in AI is structural, not cyclical, in our view.”
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