Rosenblatt raises Micron stock price target to $600 on strong ASPs

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Brent oil hovers near $115 after retreating from earlier spike amid supply fears What happens next in Hormuz? ING outlines three scenarios European stocks lower amid central bank decisions, oil prices surge Gold prices pinned below $4,900/oz as rate uncertainty dulls safe haven appeal 55% Off - FLASH SALE (South Africa Philippines Nigeria) 55% Off - FLASH SALE Rosenblatt raises Micron stock price target to $600 on strong ASPs By Analyst Ratings Published 03/19/2026, 07:45 AM Rosenblatt raises Micron stock price target to $600 on strong ASPs 0 MU 0.01% Investing.com - Rosenblatt raised its price target on Micron Technology (NASDAQ:MU) shares to $600 from an undisclosed prior level while maintaining a Buy rating on the stock. The memory chip maker’s shares currently trade at $461.73, up 354% over the past year and near its 52-week high of $471.34, though InvestingPro analysis suggests the stock may be overvalued at current levels. The firm cited Micron ’s quarterly results and guidance, noting that DRAM average selling prices increased approximately 65% sequentially and NAND average selling prices rose approximately 77% sequentially. Guidance indicates further ASP increases ahead. The strong pricing power has driven revenue growth of 45% over the last twelve months, with analysts forecasting earnings per share of $35.57 for fiscal 2026. InvestingPro data shows the stock trades at a PEG ratio of just 0.21, indicating attractive valuation relative to its growth trajectory—one of 23 ProTips available to subscribers, along with comprehensive Pro Research Reports covering Micron’s full investment thesis. Demand is expected to exceed supply through 2026 and into 2027 as bit supply growth remains limited to approximately 20% in 2026 based on process node transitions. New DRAM wafer capacity is expected in mid-2027, with new NAND wafers anticipated in late 2028. Management introduced Strategic Customer Agreements, whic...