DA Davidson lifts Micron price target to $3000 on AI memory demand

[Taiwan Micron Technology Company plant.] BING-JHEN HONG DA Davidson lifted its price target on Micron (MU [https://seekingalpha.com/symbol/MU]) to $3000 from $2100 on the memory-chip maker's growth prospects as AI drives demand for memory. The $3000 price target implies about 195% upside from Micron's shares, which were trading at $1018 before the bell on Wednesday. "Micron is on a growth trajectory for the next 3-5 years, which is what the market has not yet acknowledged," analyst Gil Luria said. According to the brokerage, memory has become increasingly important to AI systems, as more memory can allow AI models to process larger amounts of information and run faster. It expects demand for memory to exceed supply in 2027 and 2028.