Rosenblatt Raises Micron Price Target to $300, Maintains Buy Rating on AI-Driven Memory Demand

Core Viewpoint - Rosenblatt raised its price target on Micron Technology to $300 from $250 while maintaining a Buy rating, driven by accelerating demand for DRAM and NAND memory due to artificial intelligence applications [1] Group 1: Demand and Supply Dynamics - Limited DRAM supply growth is expected through 2026, which, combined with increasing demand from AI accelerators requiring high-bandwidth memory, supports a bullish outlook for Micron [1] - The deployment of AI models at the network edge in PCs and smartphones is contributing to the rising demand for memory products [1] Group 2: Price Trends and Earnings Estimates - Both DRAM and NAND prices are rising faster than previously anticipated, leading to an upward revision in earnings estimates for Micron [2] - Constrained supply growth across the industry is expected to continue supporting elevated pricing levels, creating a favorable environment for Micron shares [2]