TD Cowen set a $1,600 price target for Micron Technology. This forecast implies a potential 70% upside for the stock.
Micron shares have surged 226% this year. Analysts cite a structural shift in the memory market driven by artificial intelligence. The firm anticipates a stock rerating as valuation multiples remain low.
Soaring demand for high-bandwidth memory (HBM) in AI servers drives record profitability. Wall Street maintains a consensus buy rating ahead of the fiscal Q4 report. Analysts continue to raise earnings estimates.