Micron price target raised to $475 from $450 at UBS

UBS raised the firm’s price target on Micron (MU) to $475 from $450 and keeps a Buy rating on the shares. The firm’s industry checks point to strengthening pricing dynamics across both core DRAM and NAND, with the belief that shortages could last through 2026 and even into 2028, particularly for DRAM, the analyst tells investors in a research note. UBS believes Micron is trying to leverage the current market tightness into new long-term agreements that would concede some near-term pricing upside, but create more sustainable revenue and earnings over the next few years.