5-star analyst drops eye-popping Micron stock price target

Group 1 - A top-rated analyst at Piper Sandler has set a new price target of $400 for Micron Technology, representing a significant 45% increase from the previous target of $275, indicating strong confidence in the stock's performance [1] - Micron's stock has surged 43% in the past month, significantly outperforming the S&P 500, which gained just under 1% during the same period [1] - The new price target implies an 18% upside from Micron's January 7 close of $339.55, showcasing the stock's potential for further growth [2] Group 2 - The bullish outlook on Micron is supported by a tight memory supply and strong pricing power, which are expected to persist [5] - Micron's memory output for 2026 is already sold out, and increasing production capacity involves complex engineering challenges and significant investment in facilities [6][8] - The process of expanding production capacity is likened to the complexities of redesigning a Formula 1 car while simultaneously expanding the factory, highlighting the difficulties in quickly ramping up supply [7]