The American financial services company Wells Fargo raised its price target on Micron (NASDAQ: MU) by 120% on June 8, upping it from $550 to $1,220 and maintaining a ‘Buy’ rating on the semiconductor leader.
Although Micron share price is already up more than 170% in 2026, Wells Fargo sees further upside this year due to persistent memory tightness, strong customer authentication (SCA) engagements, and Micron’s overall execution.
Compared to the last closing price of $864, the new Micron price target implies more than 40% upside.
Cantor Fitzgerald upgrades its MU stock price target
On the same day, Cantor Fitzgerald increased its Micron price target from $700 to $1,500, reiterating an ‘Overweight’ trading and calling the company one of its ‘top picks.’
Analysts described the market as standing at a ‘decisive point,’ with the company itself believing that there is ‘meaningful upside’ for the foreseeable future.
“The memory trade is alive and well, though we are now at a decisive inflection point where investors need to decide whether ‘this time is truly different.’ Our view remains that we will be in under-supply for both DRAM and NAND throughout all of CY26, CY27, AND CY28, driven by both an increasingly robust demand backdrop (CPU inflection a new vector of growth here) and inability to expand capacity at a rapid enough pace to keep up,” Cantor wrote.
Morgan Stanley gave MU stock a similar treatment last week, when analyst Joseph Moore more than doubled his price target on the company, raising it from $520 to $1,050 and keeping an ‘Overweight’ rating.
Moore argued that memory chipmakers such as Micron are going to benefit the most from the memory pricing surge, considering that they control nearly 90% of global output. However, the analyst added that there’s ‘no quick fix to the memory shortage,’ meaning tight supply conditions are likely to persist for at least two to three more years.
Is Micron stock a buy?
With 26 ‘Buy,’ three ‘Hold,’ and no ‘Sell’ ratings, Wall Street has dubbed Micron a ‘Strong Buy,’ according to the last three months’ analyst data compiled by TipRanks.
As the same data suggests, the average Micron stock price target for the next 12 months sits at $919, which implies a 6.36% upside from the last closing price.
Featured image via Shutterstock
