Micron Rallies as TD Cowen Lifts Price Target 127% Ahead of Earnings
TD Cowen analyst raised Micron's (MU) price target by 127% ahead of earnings, expecting AI memory demand to sustain pricing power through 2027. The stock rallied on the upgrade.
Key Numbers
A TD Cowen analyst raised the price target for Micron Technology (MU) by 127% ahead of the upcoming earnings report, sending shares higher in pre-market trading. The analyst sees AI-driven memory demand supporting pricing strength through 2027.
Recommendation Change
TD Cowen raised its price target on Micron from $65 to $147, maintaining a "Buy" rating. The adjustment represents a 127% increase from the previous target.
Analyst Rationale
The analyst believes growing demand for high-bandwidth memory (HBM) used in AI applications will support memory pricing in the coming years. Micron is well-positioned to benefit from this trend due to its advanced technology.
Context
The upgrade comes ahead of Micron's fiscal Q4 2025 earnings release, where analysts expect strong revenue growth driven by AI memory sales. Micron shares have risen over 30% year-to-date.
What to Make of It
The TD Cowen price target hike reflects growing optimism in the AI-driven memory sector, but investors should watch actual earnings results and guidance to gauge the accuracy of these projections.
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