D.A. Davidson raises Micron price target to $3,000 from $2,100 and keeps Buy

D.A. Davidson analyst Gil Luria raised his Micron price target to $3,000 from $2,100 and kept a Buy rating on October 7, 2026. The target equals about 19 times his expected fiscal 2027 earnings, against roughly six times at the stock's price of just above $1,000 at the time. Luria also expects a large buyback in December, once Micron is released from repurchase limits tied to its Chips Act funding.

• Price target raised to $3,000 from $2,100; rating Buy maintained
• Target assumes about 19 times fiscal 2027 EPS, versus about six times the current price
• Stock was just above $1,000 at the time, implying close to 200% upside
• Large buyback expected in December when Chips Act repurchase limits lapse