Bank of America adds Micron to US 1 List, lifts target to $177

Micron Technology shares climbed after Bank of America added the company to its US 1 List, upgraded the stock to Buy from Hold, and raised its price target to $177 from $144. The bank’s US 1 List is its roster of highest-conviction U.S. equity ideas, and its analysts described Micron as the “top US memory company.” Shares rose as much as 5.9% intraday before trading around $154.51, leaving the stock up roughly 4.5% on the day. Bank of America’s bullish view is tied to edge AI (artificial intelligence run near devices), a market that relies on memory chips in products such as smartphones, autonomous vehicles, and industrial sensors rather than only large cloud data centers. The new $177 target suggests about 14.5% upside from $154.51, though the sharp same-day move also underscores the risk that positive analyst calls can be quickly reflected in the share price.