The latest Micron (NASDAQ: MU) endorsement came on June 18, when Stifel raised its Micron stock price target from $550 all the way to $1,500 and reiterated a ‘Buy’ rating on the memory chipmaker.
Analyst Brian Chin cited another major upward shift in artificial intelligence (AI) demand, which echoed the sentiment of several other Wall Street firms this week.
Chin further noted the firm now models roughly double the DRAM average selling price per gigabit compared with what was implied by Micron’s initial guidance. Specifically, he stated that current contract pricing exceeds $2.5 per gigabit for server DRAM and $1.5 per gigabit for consumer PC and mobile applications.
Likewise, the firm expects Micron’s fiscal fourth-quarter revenue to grow 20% quarter over quarter but forecasts DRAM bit shipment growth to slow in calendar 2027 after expanding at a low-to-mid-20% pace in 2026.
“We are increasing our estimates significantly above consensus, and PT to $1,500. Our F3Q (May) changes reflect another big, upward shift in Al-driven demand; we now model a ~2x better DRAM ASP/Gb (ex-HBM) than implied by MU’s initial outlook,” Chin wrote.
Wedbush more than doubles its Micron stock price target
On June 17, Wedbush raised its own price target on Micron from $500 to $1,300 and reiterated its ‘Outperform’ rating, likewise pointing to sustained AI demand.
Analyst Matthew S. Bryson increased both revenue and earnings per share (EPS) forecasts for the third fiscal quarter and future periods, arguing AI demand will extend through 2027 (or even 2028) and seeing little risk of an industry oversupply over the next 18 months.
The new $1,300 price target is based on a valuation of nine times Wedbush’s fiscal 2027 EPS estimates plus net cash, and Bryson noted that the multiple sits at the upper end of historical peak-cycle valuations.
Overall, the brokerage sees a strong probability that Micron will outperform its projections and feels justified in upping its Micron share price target despite shares trading near record levels.
“We are reiterating our outperform rating and raising our PT from $550 to $1,300 with our revenue and EPS estimates (for both FQ3 and the out quarters) increasing substantially. With numbers moving higher, demand for Al seemingly set to remain robust through CY2027 (if not 2028), limited likelihood of oversupply over the next 18 months, and finally a strong likelihood MU exceeds our estimates, we see no reason to shift our positive view on the name,” Bryson wrote.
Deutsche Bank sets another $1,500 Micron share price target
On the same day, Deutsche Bank increased its Micron price target from $1,000 to $1,500 while maintaining a ‘Buy’ rating. The primary catalysts, the bank said, are industry demand and improving fundamentals ahead of the memory chipmaker’s May-quarter earnings report.
The brokerage lifted its estimates as the chipmaker’s financial outlook has improved since its previous earnings call, and analyst Melissa Weathers now expects May-quarter revenue to reach $35.1 billion, above even the high end of the company’s guidance range.
Weathers also believes that DRAM bit demand will significantly outpace supply growth over the coming years, as memory-intensive AI workloads drive consumption. Furthermore, she now projects EPS at $160 for calendar year 2027 and expects gross margins to remain above 80% for the foreseeable future.
“Against this strong fundamental backdrop and with new contracting arrangements bolstering financials, we see a strong case for upward EPS revisions + valuation re-rating closer to semi-peer multiples. Reiterate Buy rating, raise P/T to $1,500,” Weathers wrote.
Overall, Deutsche Bank expects the industry’s supply-demand imbalance to persist through the second half of 2026, continue throughout 2027, and extend well into 2028. Still, it sees substantial potential for further upward earnings revisions.
Wall Street’s Micron stock price prediction
Following the three bullish revisions, Micron has an average 12-month price target of around $1,154, which implies a modest 1.77% upside potential, as per the data Finbold retrieved from TipRanks on June 19.
Over the past three months,the stock has been rated a ‘Buy’ 27 times and ‘Hold’ two times,’ meaning it is currently considered a ‘Strong Buy.’
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