Micron Technology has considerable room left to run as the company positions itself to benefit from a memory shortage amid the artificial intelligence boom, according to Deutsche Bank. The bank has a buy on the semiconductor name. It hiked its price target to $1,500 from $1,000, implying 47% upside from Tuesday's close. "We see strong upward bias to our estimates given management's intra-quarter commentary around its financial outlook strengthening, continuous strength in memory pricing, and the company's historical tendency to beat Street revenue estimates," analyst Melissa Weathers said Tuesday in a note to clients. Shares of Micron have surged 258% in the year to date, fueled by a memory supply crunch worsened by widening AI adoption. It's a trend that should continue for the next few years, boosting the semiconductor firm's stock, according to Deutsche Bank. MU YTD mountain MU year to date "All told, we see continued momentum for MU fundamentals into this earnings report, with the industry supply-demand imbalance sustaining (if not worsening) into 2H26, 2027, and well into 2028," Weathers wrote. The bank projects memory-related tailwinds will help boost revenue to $35.1 billion for the third quarter of the current fiscal year, or above the $33.5 billion expected by Micron. The company is slated to report its third-quarter results on June 24. Deutsche Bank's call falls in line with consensus on the Street. Of the 47 analysts that cover Micron, 44 have a buy or strong buy rating on the stock, LSEG data shows. Other firms on the Street have upped their targets on Micron as well. On Monday, TD Cowen raised its forecast to $1,500 . Last month, UBS moved its price target to $1,625 from $535 .
<small>Source: CNBC</small>
