Micron price target raised to $450 from $300 at TD Cowen

TD Cowen raised the firm’s price target on Micron (MU) to $450 from $300 and keeps a Buy rating on the shares. The firm says memory shortages are worsening, not improving. TD sees see further upside to Micron’s 2026 earnings power. TD’s work suggests DRAM and NAND shortages are worsening, supporting a firmer pricing outlook into the second half of 2026, the analyst tells investors in a research note. The firm thinks Micron shares may continue to outperform peers in the near term.