Why This 5-Star Analyst Just Gave Micron (MU) Stock a Big Price Target Boost Before Earnings

FomoAnxiety · 2026-03-09T19:28:33+00:00

Citi upgraded Micron Technology to a Buy rating, raising its price target due to surging memory chip prices driven by strong AI demand. Analysts predict a significant rise in DRAM and NAND prices, suggesting a potential industry boom similar to the 1990s.

FomoAnxiety

2026-03-09 19:28:33

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Investment firm Citi C -2.58% ▼ reiterated its Buy rating on Micron Technology MU +2.57% ▲ and raised its price target from $385 to $430 ahead of the company’s upcoming quarterly results. The upgrade comes as memory chip prices continue to surge and demand tied to artificial intelligence remains strong. Micron, which is one of the world’s largest memory manufacturers, is scheduled to report its second-quarter earnings on March 18, and analysts expect to see improving price trends that will support its results.

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In particular, Citi analysts, led by five-star-rated Atif Malik, believe that DRAM average selling prices could jump by 171% year-over-year in 2026 due to strong demand from data centers, while NAND prices could rise by 127% as enterprise SSD demand grows. At the same time, reports suggest that Samsung SSNLF +54.05% ▲ has already increased its DRAM prices by 100% quarter-over-quarter in the first quarter. As a result, this could push revenue estimates higher than what the market expects.

Looking ahead, investors are debating whether the industry is entering a longer-lasting memory boom similar to the DRAM cycle during the 1990s PC expansion. Interestingly, Citi analysts say that strong AI demand, combined with limited new chip fabrication capacity, could extend the cycle. Moreover, based on how Micron stock has behaved during previous memory cycles, the firm believes that share prices could continue to rise this year.

Is MU a Good Stock to Buy?

Turning to Wall Street, analysts have a Strong Buy consensus rating on MU stock based on 26 Buys, one Hold, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average MU price target of $438.44 per share implies 15.2% upside potential.

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