Morgan Stanley Raises Micron Price Target to $1,200, Maintains Overweight on AI Chip Demand

According to Morgan Stanley, the investment bank raised Micron Technology's price target to $1,200 from $1,050, maintaining an overweight rating. The bank increased its 2027 fiscal year earnings per share forecast by approximately 40% to $168 per share, and raised its free cash flow projection from $104 billion to $140 billion. Morgan Stanley expects AI to drive DRAM demand to significantly exceed supply beyond 2027.
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