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D.A. Davidson raised its price target on Micron Technology (NASDAQ: MU) to $3,000 from $2,100 and kept its Buy rating, according to an October 7, 2026 report. The reported rationale combines a multi-year growth outlook—supported by AI-related memory demand and expected tight supply—with the possibility that investors will assign Micron a higher valuation multiple as they better recognize its value. These are analyst expectations, not company guidance or guaranteed outcomes.

What changed in D.A. Davidson’s Micron call?

Analyst Gil Luria lifted the target by $900, from $2,100 to $3,000, while maintaining a Buy rating. The account of the call was published by TheFly and syndicated by TipRanks on October 7, 2026. The available coverage does not specify the target’s time horizon.

Why does the analyst see room for a higher valuation?

The reported explanation is not just that Micron could sell more memory. After meetings with Micron’s investor-relations team, D.A. Davidson concluded that investors were still early in understanding the company’s value. Luria’s thesis is that broader recognition of Micron’s growth prospects could lead the market to assign it a higher valuation multiple. That is a possible market reappraisal, not a forecast that a higher multiple is certain.

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What business outlook supports the thesis?

Related TipRanks coverage attributes to Luria a three-to-five-year growth opportunity, with AI systems contributing to stronger memory demand. The analyst reportedly expects demand to remain ahead of supply in 2027 and 2028. If that imbalance persists, it could support the growth outlook; the available reporting does not establish that it will happen.

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Reported revenue estimates

TipRanks reported Gil Luria’s D.A. Davidson forecasts of $255.5 billion in fiscal 2027 revenue, compared with $133.2 billion in fiscal 2026. These are analyst estimates reported in 2026, not Micron guidance or realized results.

What the reported coverage does not show

The available articles do not provide D.A. Davidson’s full valuation model, detailed earnings-per-share assumptions, or a precise horizon for the $3,000 target. The forecast figures alone are not enough to independently derive that target or determine how much depends on earnings growth versus a higher valuation multiple. The October 7, 2026 coverage reports the call; it does not establish that the target remains current.

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