Barclays and Wells Fargo have raised their price targets for Micron Technology (MU), citing improved memory chip demand and a strengthening industry recovery. The moves reflect growing confidence in the company's turnaround strategy and long-term growth prospects.
- Barclays raised Micron’s price target to $130 from $115
- Wells Fargo increased target to $128 from $110
- Q4 2025 server shipment growth: +7% YoY
- Micron expanding capacity in Arizona facilities
- Sector-wide recovery in DRAM and NAND demand expected through 2026
Micron Technology (MU) has received upgraded price targets from Barclays and Wells Fargo, signaling increased investor optimism in the semiconductor sector's rebound. Barclays lifted its target to $130 per share, up from $115, while Wells Fargo increased its forecast to $128 from $110. Both firms cited improving inventory cycles and rising demand for DRAM and NAND flash memory components across data centers, AI infrastructure, and consumer electronics. The upgrades come amid signs of stabilization in the memory market, which had faced prolonged oversupply and price declines through late 2024 and early 2025. Recent data indicates that global server shipments grew by 7% year-over-year in Q4 2025, fueling demand for high-capacity memory solutions. Micron’s strategic focus on advanced packaging technologies and expanding capacity at its domestic manufacturing facilities—particularly in Arizona—has also bolstered analyst confidence in its competitive positioning. The adjusted targets imply potential upside of approximately 20% for MU stock from current levels, based on closing prices as of January 17, 2026. This revaluation reflects a broader shift in sentiment toward semiconductor equities, especially those tied to artificial intelligence and cloud computing trends. Institutional investors are now reassessing valuation multiples after three consecutive quarters of declining revenue for memory-focused firms. Market participants across tech and financial sectors are closely watching Micron’s performance, given its role as a bellwether for broader semiconductor health. Analysts note that sustained demand from hyperscalers like Amazon, Microsoft, and Google may drive further inventory normalization through 2026, supporting margin expansion and capital return initiatives.