12 investment banks raise Micron Technology target price and predict storage prices will rise

Twelve investment banks, including Morgan Stanley, Wedbush, Deutsche Bank, Citi, Stifel, Needham, Bernstein, Haitong International, Jefferies Group, Wells Fargo, Goldman Sachs, and Cadence, have raised their target prices for Micron Technology and forecast that rising memory chip prices will drive Micron Technology's profits and share price higher. The investment banks expect the supply-demand imbalance for DRAM and NAND will persist, with Jefferies Group predicting a quarter-on-quarter increase of 40% to 50% in Micron Technology's memory prices in the third quarter, Deutsche Bank expecting DRAM supply shortages to last until 2028, and Citi predicting that the average selling price of DRAM will rise by 200% this year.