Citi raised the firm’s price target on Micron (MU) to $130 from $110 and keeps a Buy rating on the shares ahead of the fiscal Q3 report on June 25. The firm expects the company to post results and provide guidance above consensus, driven by higher than expected DRAM pricing. DRAM pricing is expected to increase at least 5% quarter-over-quarter during calendar Q2, well above initial expectations of up 2%, with another quarter-over-quarter increase of at least 5% during Q3, the analyst tells investors in a research note. Citi increased estimates and its new fiscal 2026 earnings estimate for Micron is 16% above consensus.
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