Wells Fargo raised its price target for semiconductor maker Micron.

American financial company Wells Fargo raised On June 8, we raised our price target on Micron (NASDAQ: MU) shares by 120%, from $550 to $1220, while maintaining a Buy rating for the semiconductor industry leader.

Despite the fact that Micron's stock price is already increased Wells Fargo sees further growth potential this year, driven by continued memory pressure, aggressive customer authentication (SCA) adoption, and Micron's overall operational efficiency, with more than 170% growth by 2026.

Compared to the last closing price of $864, Micron's new price target implies more than 40% upside potential.

Perplexity Data

Cantor Fitzgerald also raised its price target on Micron shares on Monday from $700 to $1500, reiterating its "outperform" rating and naming the company one of its "top picks."

Analysts have described the market as being at a "crucial moment," and the company itself believes there is "significant growth potential" in the foreseeable future.

Memory trading is alive and well, although we are now at a turning point where investors need to decide whether “this time is different.”

 

We continue to believe that DRAM and NAND shortages will persist throughout calendar years 2026, 2027, and 2028, driven by both higher demand (the processor inflection point is a new growth vector) and the inability to grow capacity fast enough to keep up with demand, the Cantor analyst wrote.

Last week, Morgan Stanley analyst Joseph Moore gave a similar assessment to MU shares, more than doubling his price target for the company from $520 to $1050 and maintaining an "Overweight" rating.

Moore is convinced that memory chip makers like Micron will benefit the most from the sharp rise in memory prices, given that they control nearly 90% of global production. However, the analyst added that "there is no quick fix to the memory shortage," meaning the tight supply situation will likely persist for at least the next two to three years.

On According to According to TipRanks analysts, Micron's stock has received 26 Buy ratings, three Hold ratings, and no Sell ratings over the past three months, giving Wall Street a Buy rating.

TipRanks data

Micron's average price target for the next 12 months is $919, implying a potential upside of 6,36% from the previous day's closing price.