D.A. Davidson Raises Micron Target to $3,000, Citing AI‑Driven Memory Surge and ‘If You Don’t Buy It, They Will’ Outlook

D.A. Davidson has more than tripled Micron Technology’s share price since the start of the year, and the rally is still in its early stages, the investment bank said. Analysts at D.A. Davidson lifted their 12‑month price target on the Boise‑based memory chipmaker by 43% to $3,000 from $2,100 and kept a buy rating on the stock. The new target represents roughly a 187% upside from Micron’s recent close of $1,045.56. After a meeting with management, Gil Luria, the Davidson analyst, remarked, “We concluded that investors are early in their journey of understanding MU’s value and believe that journey will lead them to assigning a far higher multiple. If you don’t buy it, they will.” Micron has already jumped 266% in 2026 and 463% over the past year, propelled by the artificial‑intelligence boom that is tightening memory supplies. Demand is so robust that it is likely to “outstrip supply” in 2027 and 2028, according to Luria. “Memory is a lever for better AI performance,” he wrote. “AI models generate better results with more memory, run faster with more memory, and have longer context windows with more memory. That observation is driving the increases in demand that are expected to outstrip supply in 2027 and 2028.” Micron is also moving to lock in 50% of its revenue through long‑term strategic customer contracts. Because those agreements are not easily cancellable, sales are effectively guaranteed for several years, which should reassure a broader investor base about the sustainability of Micron’s business. D.A. Davidson’s recommendation aligns with the Wall Street consensus, where 46 of 50 analysts rate Micron a buy or strong buy, LSEG data shows.

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