Piper Sandler raised the firm’s price target on Micron (MU) to $200 from $165 and keeps an Overweight rating on the shares. The firm notes the company reported solid results and guidance during its fiscal fourth quarter earnings. Results and guidance both exceeded expectations into the print with guidance that was driven by continued DRAM demand and better-than-expected gross margins. Positive commentary continued around HBM as Micron now expects to be sold out of its 2026 HBM capacity in the coming months, Piper adds. The firm continues to view Micron positioned well to capture share with its HBM product and execute on its planned roadmap for the data center end-market down the line.
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