Micron Stock Surges on Double Upgrade and Street-High Price Target
Micron Technology (MU) shares climbed more than 6% Monday after BNP Paribas Exane analyst Karl Ackerman issued a rare double upgrade, lifting the stock from Underperform to Outperform. His new $270 price target—up from $100—now stands as Wall Street's most bullish call, implying 40% upside.
The reversal is striking. Just months ago, Ackerman held one of the lowest price targets on Micron. The shift reflects growing confidence in high-bandwidth memory (HBM) demand and an accelerating recovery in memory pricing. "We're witnessing the early stages of a memory supercycle," Ackerman noted, citing AI-driven demand for faster, more efficient chips.
Micron appears well-positioned to capitalize. HBM is emerging as a sustained profit driver, with the company poised to benefit from expanding AI applications. The analyst expects this segment to fuel growth for years to come.
