Wolfe Research Hikes Micron Price Target Despite 223% YTD Surge

Wolfe Research raised its price target on Micron Technology (NASDAQ: MU) despite the stock already surging 223% year-to-date. Shares traded near $939, up 5% in Thursday's session on June 11, 2026.

Rating Change

Wolfe Research did not explicitly disclose the new price target or prior rating in the report, but the upgrade signals a bullish outlook despite elevated levels.

Analyst Rationale

Analysts at Wolfe Research cite strong demand for memory chips, particularly from AI and data center sectors. Improving supply-demand dynamics in the memory market also supports continued earnings growth for Micron.

Context

Micron is not alone in its record run; NVIDIA (NVDA) also hit all-time highs amid the AI boom. However, some analysts warn that high valuations could leave stocks vulnerable to sharp corrections.

What to Make of It

Wolfe Research's price target hike reflects confidence in Micron's growth trajectory, but investors should consider that the stock may be overvalued after such a rally. The decision hinges on risk tolerance and investment horizon.