Deutsche Bank Raises Micron Target to $1,500, Sees Memory Shortage Through 2028

According to Deutsche Bank analyst Melissa Weathers on June 18, the bank upgraded Micron Technology's (MU-US) price target to $1,500 from $1,000, maintaining a buy rating. Based on Micron's latest closing price of $1,020.76, the stock has approximately 47% upside potential. Weathers cited management's increasingly optimistic outlook, sustained high memory prices, and the company's consistent track record of beating Wall Street earnings estimates.

Micron is scheduled to report quarterly results on June 24. Deutsche Bank estimates revenue could reach $35.1 billion this quarter, above the company's prior guidance of $33.5 billion. The bank predicts memory supply shortages will persist through 2026, 2027, and into 2028, becoming a key driver for Micron's stock price. According to LSEG data, 44 of 47 analysts covering Micron rate it buy or strong buy.