D.A. Davidson raises Micron target to $3,000
D.A. Davidson analyst Gil Luria lifted his Micron price target to $3,000 from $2,100. The note said the new target reflects a higher earnings multiple tied to Micron’s 2027 forecast.
By Adam Clark The memory-chip profit cascade just keeps flowing. Samsung Electronics expects a quarterly operating profit of more than $80 billion, in a gush of earnings that should be music to the ears of Micron Technology shareholders. 18 billion). Although the company doesn't provide segment breakdowns for preliminary results, the driver was almost certainly memory chips.
The Samsung estimate wasn't doing much for memory stocks in the short term. 4% in local trading in South Korea. 1% gain the previous day. Skeptics of the memory trade will argue that such enormous quarterly profit figures just reflect a cyclical peak -- Micron's own blowout earnings last week did little to move the shares.
But with memory production only expected to meaningfully increase from 2028, the profit boom is set to continue and that will likely fuel major stock buybacks. Samsung has already guided for 2026 shareholder returns at 90 trillion won to 110 trillion won. A. Davidson analyst Gil Luria, the time to act is now.
He raised his target price on Micron to $3,000 from $2,100 in a research note on Wednesday. Notably the main driver of Luria's price target -- which is nearly three times higher than current levels -- was ascribing a price-to-earnings multiple of 19 times his forecast for Micron's 2027 earnings. 1 times according to FactSet. "Up until now we have limited ourselves to consecutive price targets that were limited to twice the stock price, but that is not where we think shares will trade in a year," Luria wrote.
" Barron's has previously written that Micron and other memory-chip companies might have to endure a downcycle before investors are willing to assign them higher multiples. com This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. (END) Dow Jones Newswires October 08, 2026 08:28 ET (12:28 GMT) Copyright (c) 2026 Dow Jones & Company, Inc.
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