Micron Jumps 12% After Price Target Raise From $535 to $1,625: Here's What's Driving Wall Street's Most Bullish Target

Micron Technology shares rose 12% to $843 after UBS increased its price target to $1,625 from $535 while keeping a Buy rating. The increase is far above the prior Wall Street high, with most analysts already rating the stock Buy or higher. UBS expects long-term memory supply agreements to provide pricing and demand visibility across much of the industry. The firm projects Micron’s earnings per share to exceed $100 at least until 2029. UBS frames the upgrade as a multiple re-rating driven by AI-driven structural changes that improve durability and stability in the memory market. Micron also began producing 1-alpha DRAM at its Manassas, Virginia facility, described as the most advanced memory produced in the United States.

"We believe the market will start to put a more 'normal' multiple on the stock, and MU will continue to re-rate higher as more details emerge about the structural changes AI has driven to the entire memory complex."

"UBS's thesis hinges on long-term memory supply agreements that the firm expects to lock in pricing and demand visibility across much of the industry. Arcuri's note projects Micron's earnings per share (EPS) will exceed $100 at least until 2029."

"On Friday, Micron's Manassas, Virginia facility began producing 1-alpha DRAM, which the company describes as the most advanced memory ever produced in the United States. President Trump praised the company that day with the words "Micron is great.""

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