Bank of America Raises Micron Price Target to $1,550, Maintains Buy Rating

According to Bank of America Securities, the bank raised Micron Technology's price target to $1,550 from $1,500 following the company's strong quarterly earnings. The firm maintained its buy rating and raised earnings-per-share forecasts by 4 to 7 percent, citing Micron's reinforced position in AI memory storage and disciplined supply-side dynamics.

Micron has secured 16 strategic customer agreements, which may moderately limit near-term pricing upside but enhance visibility and reduce volatility by aligning costs with customers facing rising storage expenses tied to AI capital expenditures.