Micron Technology (MU) shares surged 9.17% to close at $465.66, driven by a broader market recovery and significant analyst price target hikes. The move reflects growing optimism as the Nasdaq rose 0.90% amid easing geopolitical tensions.
- Analysts increased the average price target to $533.72, with top estimates reaching $610—implying a potential 43% upside driven by projected $39.5B in free cash flow.
- The rally aligns with Middle East de-escalation optimism, extending a strong upward trend for MU from its recent $377.76 level.
- Following the daily surge, the stock was trading at $461.15 (-0.97%) in after-hours sessions.