Baird reiterated its outperform rating on Micron Technology and raised its price target to $1,520 from $1,280, implying 40% upside from Friday’s close. The firm cited stronger demand for agentic artificial intelligence, including CPU demand expected to continue next year, slower industrywide DRAM supply-bit growth in 2027 and higher expected margins for HBM next year. Micron shares have risen 279% in 2026 amid a memory-chip shortage and reached an intraday record of $1,255 on June 25. The company’s fiscal fourth-quarter report is due Wednesday, with LSEG analysts expecting 939% year-over-year earnings growth.