Micron Price Target Lifted After Analyst Call
DA Davidson raised the Micron price target to $3,000, citing AI-driven HBM demand and expected supply tightness that drew renewed trader attention.
KEY TAKEAWAYS
- DA Davidson raised Micron's price target to $3,000 and kept a Buy rating, citing AI-driven HBM demand.
- The $3,000 target equaled 19 times DA Davidson's fiscal-2027 EPS estimate, per reproduced coverage.
- Netlist's Form 8-K disclosed separate agreements with Micron including $30M quarterly fees and $600M total license.
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Micron Technology (MU) saw its price target raised on October 7, 2026, after a sell-side analyst cited expectations for sustained AI-driven memory demand and tightening supply of high-bandwidth memory (HBM), drawing investor attention.
DA Davidson Raises Target on AI Demand
DA Davidson analyst Gil Luria reportedly increased Micron’s price target to $3,000 from $2,100 while maintaining a Buy rating. The update circulated through secondary reproductions of the firm’s research note.
Coverage attributed the revision to ongoing artificial-intelligence-related memory demand and expectations that HBM demand will exceed supply in 2027 and 2028. The new target was based on 19 times DA Davidson’s estimated fiscal-2027 earnings per share. This figure represents a sell-side valuation estimate, not company guidance.
Market Context and Analyst Views
Reports noted Micron shares rose even as broader equities faced pressure from higher oil prices and rising Treasury yields. Earlier in October, other analysts had set lower targets, including $1,900 from Rosenblatt and $1,600 from TD Cowen, illustrating divergence among sell-side views.
Netlist Settlement and 8-K Filing
Separately, Netlist filed a Form 8-K dated October 5, 2026, updated October 7, describing a settlement and release, a patent-license agreement, and a securities-purchase agreement involving Micron. The filing disclosed quarterly license fees of $30 million for 20 calendar quarters, totaling $600 million, and Micron’s purchase of 10 million Netlist shares for $1 million. The transactions were expected to close on or before October 6, 2026. This filing is Netlist’s and is unrelated to the analyst target revision.
