Micron price target raised to $840 at Citi amid DRAM price hikes

Citi raised the firm’s price target on Micron (MU) to $840 from $425 and keeps a Buy rating on the shares, citing a belief that Micron is raising DRAM prices 40% in calendar Q2 following peer Samsung’s (SSNLF) 100% price hike in Q1. The firm, which expects the DRAM upturn to last through calendar 2027, also expects HBM pricing to go higher in 2027 given tight HBM capacity and expectations for memory makers to be disciplined in adding supply to prevent HBM content from getting cut in AI data centers next year.