Rosenblatt Raises Micron Price Target to $1,200

Rosenblatt analyst Hans Mosesmann raised the price target on Micron Technology (NASDAQ: MU) to $1,200.00 while maintaining a Buy rating.

“With the combination of increasing DRAM and NAND Flash demand and new wafer supply remaining 12 months away, we are lifting our estimates based on average selling prices increasing.

The higher prices have not slowed demand in the data center/server market.

We see potential for HBM price increases which will narrow the gross margin gap with DDR5 and further expand corporate gross margin.

This stronger for longer memory cycle has us lifting our 12-month price target to $1200 based on 10x FY27E Non-GAAP EPS.”