Morgan Stanley raised its price target on Micron Technology (MU.O) to $1,200
from $1,050 and maintained an Overweight rating. The bank lifted its FY2027 EPS
estimate by about 40% to $168 a share and raise its free cash flow forecast to
$140bn from $104bn. Morgan Stanley, aligned with Micron management, said AI will
drive DRAM demand to materially outstrip supply after 2027. Micron’s most recent
quarter conformed to this trend and both results and guidance show significant
upside down.
