DA Davidson Raises Micron Price Target to $2,000, Maintains Buy Rating on June 25

According to DA Davidson on June 25, the investment bank raised its price target for Micron Technology to $2,000 from $1,500, maintaining a buy rating. The adjustment corresponds to a 20x price-to-earnings multiple on the company's expected 2026 calendar year EPS. DA Davidson cited another quarter of better-than-expected results and positive forward guidance as key drivers. Management expects the memory chip market will remain supply-constrained through at least 2027, despite the company's planned capital expenditure of $10 billion in Q4 fiscal 2026.
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