Bank of America: Upgrades Micron Target Price to $1,550, Reiterates Buy Rating

Bank of America Securities released a report stating that Micron has once again delivered strong quarterly results, solidifying their constructive view on the role of memory in AI and the increasing supply-side discipline supporting a more sustained cycle. Strategic customer agreements have now reached 16, which may moderately limit short-term pricing upside, but by aligning with customers facing rising memory costs—which account for approximately 35% of AI capital expenditure—this enhances visibility and reduces volatility.

Bank of America Securities reiterates its "Buy" rating for Micron, raising its future annual earnings per share forecast by 4% to 7%. Based on a sum-of-the-parts valuation method, the target price has been raised from $1,500 to $1,550.