Shares of Micron Technology climbed about 14.2% in early trading on Tuesday after brokerage UBS sharply raised its target price for the stock citing stronger AI demand and long-term supply deals, taking the chipmaker closer to $1 trillion in market value. The revised target - the highest among the 46 brokerages covering the stock - implies a potential valuation of close to $1.8 trillion for the company by the next twelve months, compared with a market capitalization of $846.93 billion as of close on Friday. • UBS raised the price target more than threefold to $1,625 from the earlier $535, compared with the stock's Friday close of $751.
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Micron Technology (MU) stock is surging by as much as nearly 14% on Tuesday after UBS raised its price target on the memory chipmaker to a Wall Street-high view of $1,625 from its previous forecast of $535.
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Shares of Micron Technology (NASDAQ:MU) are up 12% to $843 after UBS raised its price target on MU stock to $1,625 from $535. The firm maintained its Buy rating, and the new figure now stands as the most bullish target on Wall Street. The magnitude of the raise is the story. UBS analyst Timothy Arcuri ... Micron Jumps 12% After Price Target Raise From $535 to $1,625: Here’s What’s Driving Wall Street’s Most Bullish Target
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UBS said Micron is expected to benefit from long-term memory supply agreements that could lock in pricing and demand visibility across much of the industry.
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