DA Davidson: Raises Micron's Target Price to $2,000, Maintains Buy Rating

BlockBeats News, June 25 — U.S. investment bank DA Davidson released a research report stating that Micron Technology has entered a new phase with one of the best performance visibilities in the semiconductor industry, marking 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 has surged. These signals indicate that the current memory chip boom cycle is far from over. Although the company is increasing capacity investments (capital expenditures for the fourth quarter of fiscal year 2026 are expected to reach $10 billion), which will bring additional supply, management expects that the memory market will remain in a tight supply-demand balance at least until 2027. Based on this, DA Davidson reiterated its "Buy" rating for Micron and raised the target price from $1,500 to $2,000, corresponding to a 20x price-to-earnings ratio (P/E) based on the expected earnings per share (EPS) for the 2026 calendar year. [Original Link]