Micron Jumps 10.43% After TD Cowen Lifts Price Target to $1,500
Updated
Updated · The Motley Fool · Jun 15
Micron Jumps 10.43% After TD Cowen Lifts Price Target to $1,500
3 articles · Updated · The Motley Fool · Jun 15
Summary
Micron shares rose 10.43% to a record high Monday after TD Cowen reiterated a buy rating and raised its target to $1,500 from $660.
The upgrade was driven by AI data-center demand for high-speed memory chips, with the bank saying supply is lagging demand and supporting stronger pricing power.
TD Cowen expects agentic AI demand to keep lifting memory markets into the second half of 2027 and sees Micron highlighting multiyear customer agreements when it reports earnings on June 24.
The new target implies about 38% upside from Monday's close, extending a rally that has lifted Micron 1,314% over five years, including more than 800 percentage points in the past year.