Citi lifts Micron stock target to $1,300 on tight DRAM supply and AI demand

Citi analyst Atif Malik raised Micron Technology’s stock target to $1,300 from $1,150, maintaining a buy rating as DRAM prices surged over 60% and supply remained tight. The new target implies roughly 21% upside from the latest close of $1,071.88. Micron’s stock rose 15.69% over five days and 277% year-to-date, while fiscal Q3 2026 revenue hit $41.46 billion, up 345.7% year over year. CEO Sanjay Mehrotra cited persistent AI-driven demand and structural supply constraints extending beyond 2027.