Micron Technology (MU) shares are trending higher in pre-market trading on Monday after Morgan Stanley upgraded the stock to Overweight from Equal-Weight and raised its price target to $220.
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Morgan Stanley analyst Joseph Moore said he expects multiple quarters of double-digit price increases across Micron’s core products, driven by rising demand for DRAM and NAND memory. He said the stronger pricing trend should boost Micron’s earnings and ease earlier worries about HBM costs for AI chips.
Moore also noted that buyers are now more cautious about supply through 2026 as server and storage demand stays strong, helping keep prices firm and giving Micron more pricing power in future contracts.
Stock Extends 2025 Gains
Micron shares have already risen over 120% so far in 2025, supported by firmer memory chip prices and growing AI-driven demand.
Monday’s upgrade adds to investor optimism that the company’s earnings and margins could keep improving in the coming quarters as supply tightens and pricing power strengthens.
Is Micron a Good Stock to Buy?
Micron stock has a consensus Strong Buy rating among 27 Wall Street analysts. That rating is based on 24 Buy and three Hold recommendations assigned in the last three months. The average MU price target of $197.00 implies 4.88% upside from current levels.
