Wolfe Research Hikes Micron (MU) Price Target to $1,250

Wolfe Research raised its price target on Micron Technology (NASDAQ: MU) to $1,250 from $550, while maintaining an "Outperform" rating. The revision follows an updated memory model that reflects expected increases in DRAM pricing for calendar years 2026 and 2027.

Rating Change

• Previous Price Target: $550
• New Price Target: $1,250
• Rating: Outperform (unchanged)

Analyst Rationale

The analyst believes the DRAM market is entering a strong upcycle, driven by rising demand from AI applications and data centers. DRAM prices are expected to rise significantly in 2026 and 2027, boosting Micron's revenue and profitability. The new price target reflects these optimistic expectations.

Context

Micron is considered one of the best bargain stocks to buy in June, according to earlier analyses. The stock currently trades below historical multiples relative to forward earnings, making it attractive to investors. Other analysts have mixed views, but Wolfe Research stands out as one of the most bullish.

What This Means

This revision reflects the analyst's confidence in Micron's ability to capitalize on the DRAM upcycle. Investors should monitor memory demand trends and DRAM pricing, as well as the company's quarterly results, to assess whether these expectations materialize.