Micron Stock Jumps On Massive Target Hike And AI Memory Demand Boom

Oct 14 - Micron MU jumped more than 6% on Monday following a double upgrade from BNP Paribas Exane, which moved the rating from Underperform to Outperform.

The firm also set a new street-high target of $270, up sharply from $100, marking a dramatic shift in sentiment.

The upgrade reflects expectations of a rebound in memory pricing and stronger demand for high-bandwidth memory (HBM). Analyst Karl Ackerman cited improving fundamentals in AI and data center workloads as catalysts.

Ackerman said he believes Micron is well positioned to capture gains in AI infrastructure, calling this phase a potential memory supercycle. He noted that Micron's progress in HBM gives it an edge in the evolving semiconductor landscape.

Other firms chimed in. Evercore ISI raised its target to $137 from $100, aligning with the bullish tone. Several analysts see upside in Micron's recovery path if industry pricing and demand trends continue to improve.

Investors now will watch upcoming earnings and market demand for memory chips. Micron's stock strength could influence sentiment for rival chipmakers in the semiconductor space.