Rosenblatt raised its price target on Micron Technology (NASDAQ: MU) to $300 from $250 while maintaining a Buy rating, highlighting accelerating demand for DRAM and NAND memory driven by artificial intelligence applications.
The firm said its bullish thesis on Micron was based on limited DRAM supply growth through 2026, alongside increasing demand from AI accelerators requiring high-bandwidth memory (HBM), as well as AI models being deployed at the network edge in PCs and smartphones.
Rosenblatt noted that both DRAM and NAND prices were rising faster than previously anticipated, prompting an upward revision to earnings estimates. The analysts added that constrained supply growth across the industry was expected to continue supporting elevated pricing levels, providing a favorable backdrop for Micron shares.
