DA Davidson: Raises Micron's target price to $2000, maintains Buy rating

BlockBeats news, on June 25, American investment bank DA Davidson released a research report stating that Micron Technology has entered a new phase with some of the best performance visibility in the semiconductor industry, which marks a sharp contrast to its previous role in the semiconductor market. Driven by another quarter of results far exceeding expectations and positive forward guidance, the stock price surged. These signals indicate that the current boom cycle for memory chips is far from over.

Although the company is increasing its capacity investment (capital expenditure for the fourth quarter of fiscal 2026 is expected to reach $10 billion), resulting in additional supply, management expects that the memory market will remain tight in terms of supply and demand at least until 2027.

Based on this, DA Davidson reiterated its "buy" rating for Micron and raised its target price from $1,500 to $2,000, corresponding to a 20x price-earnings ratio for expected 2026 calendar year earnings per share (EPS).