Citi Turns Even More Bullish on Micron Technology, Inc. (MU)’s DRAM Surge

May 23, 2026 - 17:59

Micron Technology, Inc. (NASDAQ:MU) has been one of the most heavily traded US stocks in 2026 so far, and the momentum shows no signs of slowing down. On May 18, analysts at Citi significantly raised their price target on the memory chip maker to $840 from $425, while keeping a Buy rating on the shares.

The move comes as Citi points to a major shift in the DRAM market. The firm believes Micron is raising DRAM prices by 40% in the second calendar quarter. This aggressive pricing power follows a massive price hike from rival Samsung, which has set the stage for a broader industry rally. Citi's analysts see this as a clear signal that demand for memory chips is outstripping supply, particularly in areas like data center expansion and high-performance computing.

With the new target, Citi is betting that Micron will continue to capture strong margins as the memory cycle turns sharply upward. The stock has already drawn heavy investor attention in 2026, and this latest analyst call adds more fuel to the bullish narrative. Investors are now watching to see if Micron can sustain these price increases through the rest of the year.