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Investing.com - TD Cowen has raised its price target on Micron Technology (NASDAQ:MU) to $180 from $150 while maintaining a Buy rating on the stock. The semiconductor giant, currently trading near its 52-week high of $170.45, has delivered impressive returns with a 101% gain year-to-date.
The firm expects Micron stock to continue its outperformance in the short term, citing supportive market checks that indicate positive momentum for the memory chip manufacturer.
TD Cowen noted that at this point in the cycle, average selling price (ASP) trends become more important, as the firm does not anticipate significant multiple expansion but rather continued growth in book value.
The research firm sees potential for Micron to beat November quarter earnings per share guidance by approximately 15% compared to Street estimates.
TD Cowen also raised a question about whether high-bandwidth memory (HBM) pricing is locked in for calendar year 2026, suggesting this remains an important factor for the company’s future performance.
In other recent news, Micron Technology has attracted significant attention from analysts ahead of its upcoming earnings report. Rosenblatt Securities reaffirmed its Buy rating on Micron, anticipating that the company will surpass its previously announced figures for the August quarter and provide robust guidance for the November quarter. The firm attributes this outlook to limited DRAM and NAND Flash wafer supply and increasing demand from AI workloads. Meanwhile, Wedbush raised its price target for Micron to $200, citing a strong memory cycle outlook. Similarly, Susquehanna increased its price target to $200, expecting Micron to exceed expectations and improve guidance, highlighting sustained improvements in average selling price and gross margins. Wolfe Research also adjusted its price target to $180, noting improved sentiment in NAND and resilient DRAM pricing. Additionally, Mizuho raised its target to $182, emphasizing Micron’s strengths in high bandwidth memory and a favorable DRAM-NAND market. These developments underscore a positive sentiment among analysts regarding Micron’s market position and future performance.
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