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Most analysts remain bullish on Micron stock and see continued upside, though Wall Street’s average price target suggests shares are fully priced at current levels.
Analysts Remain Optimistic About Micron’s Demand Tailwinds
Earlier this week, Morgan Stanley analyst Joseph Moore boosted his price target for Micron stock to $1,050 from $520 and reiterated a Buy rating. He also increased the price target for SanDisk (SNDK) to $1,750 from $1,100. The 5-star analyst expects supply constraints in the memory market to persist for two or three more years, or even longer, as he believes that “There’s no quick fix to the memory shortage.”
Moore noted that DRAM (Dynamic Random-Access Memory) has become the major hurdle in the AI infrastructure buildout, with hyperscalers ready to pay high prices. Consequently, he sees continued upside in MU and SNDK stocks, with both trading below 10x forward P/E on calendar year 2027 earnings estimates.
