Wolfe Raises Micron (MU) Price Target to $180, Citing AI Memory Tailwinds

Micron Technology, Inc. (NASDAQ:MU) is one of the AI Stocks Making Big Moves on Wall Street. On September 17, Wolfe reiterated the stock as “Outperform” and raised its price target to $180 per share from $160.

According to the firm, the outlook in commodity memory continues to improve with multiple AI tailwinds.

“Reiterate Outperform rating, increasing PT to $180 price target. Our $180 price target is based on ~11x our FY27 EPS of $16.43. Following MU’s positive pre-announcement in August, NAND sentiment has improved driven by HDD shortages, and DRAM pricing has proven resilient, perhaps due to better server trends. “

“While sentiment and the stock has risen into the report, we remain constructive due to the significant HBM content gains coming in CY27. We raise our FY26 Rev/EPS estimates to $49.5bn/$13.13 from prior $48.5bn/$13.03; we also introduce FY27 estimates of ~$56.3bn/$16.43, which incorporates only ~60% y/y growth in HBM, ~14% y/y growth in NAND, and ~flat y/y growth in DDR memory in FY27. We increase PT to $180 on higher estimates (~11x our FY27 EPS). Valuation: MU is trading at 9.7x our FY27 EPS, below its 11x average over the past two years. Relative performance. MU has increased +82% LTM, below SK Hynix’s +114% rise but better than Samsung’s +23% increase.”

Micron Technology, Inc. (NASDAQ:MU) develops and sells memory and storage products for data centers, mobile devices, and various industries worldwide.

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