Micron price target raised to $400 from $360 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Micron (MU) to $400 from $360 and keeps a Neutral rating on the shares. The stock is expected to remain rangebound after a very strong quarter and guidance that exceeded Street estimates, as elevated expectations were already priced in, the analyst tells investors in a research note. Notably, Micron signed its first five-year strategic customer agreement with firm purchase commitments aimed at stabilizing market dynamics, while HBM, DRAM, and NAND contract prices continue to rise on disciplined supply and robust AI-driven demand, Goldman says.