Micron and Sandisk rally on new Street-high price targets from Susquehanna

Micron and Sandisk shares surged to new all-time highs Monday after Susquehanna analyst Mehdi Hosseini issued Street-high price targets of $1,750 and $3,250, respectively, citing tight supply through 2027. The upgrades mark the fifth time in the past year that Micron's average price target has jumped more than 10% in a single week, though the stock's rally has outpaced even the most bullish analyst estimates.

Micron and Sandisk rally on new Street-high price targets from Susquehanna Micron https://robinhood.com/us/en/stocks/MU/?source=sherwood and Sandisk https://robinhood.com/us/en/stocks/SNDK/?source=sherwood both hit fresh all-time highs in early trading after Susquehanna bestowed new Wall Street-high price targets on the two memory stocks. Analyst Mehdi Hosseini upped his view on the former to $1,750 from $600, and to $3,250 from $2,000 for the latter. “Supply is now expected to remain tight through 2027, sustaining elevated margins and thus warranting valuation re-rating,” he wrote, per Bloomberg. It’s the fifth time in the past year that the average price target on Micron has gone up by more than 10% in a week. UBS’s Tim Arcuri more than tripled his price target https://sherwood.news/markets/micron-soars-ubs-more-than-triples-price-target-to-1625-wall-street-high-memory-chips-ai-boom/ on Micron earlier this week, and has already lost the title of “most bullish.” But even as analysts are tripping over themselves to raise their price targets on these stocks, the ferocity of the rally in Micron has outpaced their best efforts. The high-bandwidth memory specialist traded at a record premium to the consensus Wall Street price target this week, based on data going back to 2008.