Baird Boosts Micron Stock Target to $150 per Share: Analyzing the Impact of Analyst Upgrade and Recent Market Performance

On Monday, Micron Technology shares experienced a significant surge in intraday trading after Baird upgraded the stock and increased its price target. According to Baird Senior Research Analyst Tristan Gerra, Micron has significant potential for growth in the future.

Baird has upgraded Micron from “neutral” to “outperform” and raised the price target to $150 per share from $115. In addition to this, Micron has been added to Baird’s list of top semiconductor ideas, alongside other companies such as Nvidia, Broadcom, and Semtech.

Despite a recent pullback in Micron’s shares, Gerra believes they are currently attractive given the accelerating demand for DRAM chips. He emphasized that DRAM chip pricing is stronger than expected and that supply growth is anticipated to slow across the industry.

Baird acknowledges that upgrading Micron’s stock should have been done sooner, but they believe it is better late than never. At the time of the announcement, Micron Technology shares were up 4.8% to $120.18 and had previously hit an all-time high of $130.54 on April 4. So far this year, Micron shares have seen an increase of over 40%.