TD Cowen Raises Micron Technology Price Target to $180 from $150
September 19, 2025 – Investing.com
TD Cowen, a prominent investment firm, has raised its price target for Micron Technology (NASDAQ:MU) from $150 to $180 per share, while maintaining a “Buy” rating on the semiconductor giant’s stock. This adjustment reflects a bullish outlook on Micron’s prospects amid ongoing favorable market trends.
Micron Technology, a key player in memory chip manufacturing, is currently trading near its 52-week high, around $170.45. The company has already delivered remarkable returns, with its shares gaining approximately 101% year-to-date.
TD Cowen highlighted that Micron’s shares are expected to continue outperforming in the near term. The firm cited recent market validation pointing to positive momentum for the memory chip maker. At this stage in the industry cycle, TD Cowen emphasized the increasing importance of trends in average selling prices (ASPs). The firm does not foresee significant expansion in valuation multiples but anticipates steady growth in Micron’s book value.
Additionally, TD Cowen forecasts that Micron may surpass consensus earnings per share (EPS) estimates for the upcoming November quarter by roughly 15%. This anticipated outperformance is a key driver behind the raised price target.
However, the firm also noted an important uncertainty regarding whether high-bandwidth memory (HBM) prices will hold steady through calendar year 2026. The stability of HBM pricing remains a significant factor for Micron’s future financial performance.
Broader Analyst Support
Micron Technology has attracted a wave of positive analyst commentary ahead of its next earnings release. Rosenblatt Securities reaffirmed its “Buy” rating, expecting the company to beat its August quarter numbers and deliver robust guidance for November. Rosenblatt credited limited supply of DRAM and NAND Flash wafers alongside growing demand fueled by artificial intelligence (AI) workloads as key supportive factors.
Wedbush has set an even higher price target of $200 per share, citing a strong outlook for the memory cycle. Similarly, Susquehanna raised its target to $200, anticipating that Micron will outperform expectations and revise upward its forecasts, driven by sustained improvements in ASP and gross margins.
Wolfe Research also adjusted its price target to $180, citing increased confidence in NAND technology and resilient DRAM prices. Meanwhile, Mizuho lifted their target to $182, highlighting Micron’s strengths in high-bandwidth memory and favorable dynamics in the DRAM-NAND markets.
These upgrades collectively illustrate growing analyst confidence in Micron’s market position and prospects.
Market Context
Micron Technology is one of the leading manufacturers of memory chips globally, supplying DRAM and NAND used in various technology applications including computing, mobile devices, and increasingly, AI systems. The semiconductor industry is currently experiencing supply constraints and robust demand driven by technological trends, contributing to favorable pricing and margin outlooks for key players like Micron.
Investors will closely watch Micron’s upcoming earnings announcement for confirmation of these positive signals.
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