D.A. Davidson lifts Micron price target to $3,000 on AI‑driven demand and upcoming buyback
D.A. Davidson analyst Gil Luria raised Micron Technology’s price target from $2,100 to $3,000, citing strong AI‑driven memory demand and a large share repurchase program expected after December 9 when CHIPS Act restrictions expire. The target assumes the stock will trade at about 19 times fiscal 2027 earnings, far above its current roughly 6‑times earnings multiple. Luria also points to long‑term customer agreements that could make Micron’s earnings less cyclical. Micron reported fiscal fourth‑quarter revenue of about $54 billion and guided first‑quarter revenue to roughly $61.5 billion.
Why it matters
The new target implies roughly 176% upside from the current price, according to Luria, and suggests investors may need to re‑price Micron’s growth prospects. The anticipated December buyback could further support the share price by reducing share count, according to the analyst’s view.
Key facts
- 1Gil Luria raised Micron’s price target to $3,000 from $2,100. investinglive.com
- 2The $3,000 target assumes about 19 times fiscal 2027 earnings. investinglive.com
- 3Micron’s fiscal fourth‑quarter revenue was about $54 billion. investinglive.com
- 4Micron guided first‑quarter revenue to around $61.5 billion. investinglive.com
- 5Restrictions linked to Micron’s CHIPS Act funding expire on December 9, allowing a larger buyback. benzinga.com
- 6Micron ended fiscal 2026 with $68.3 billion in net cash. benzinga.com
Open questions
- Material 1 reports Q4 revenue as "about $54 billion" while material 2 gives $54.23 billion; the exact figure is unclear.
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.