Wall Street investment bank NewStreet has upgraded Micron Technology's rating to "Buy," with a target price set at $1,250.

On August 14, NewStreet Research, a well-known investment bank on Wall Street, announced that it has upgraded the investment rating of American memory chip giant Micron Technology from previous levels to "Buy," and set a 12-month target price of $1,250. Boosted by this positive news, Micron's stock price rose 4% to $949.83 by the close of trading on Thursday. NewStreet Research analyst Pierre Ferragu pointed out in a report sent to clients that the memory chip industry is highly cyclical, with fluctuating profit margins, which often poses challenges for downstream customers in the tech supply chain. In order to more accurately assess the company's intrinsic value, NewStreet employed the metric of "enterprise value to cost of goods sold," which effectively filters out the short-term profit margin fluctuation noise caused by changes in market supply and demand. Ferragu stated that based on expectations for the cost of goods sold in 2028 and 2030, NewStreet has estimated that Micron's reasonable target price for the next 12 months is $1,250. Analysts believe that this rating upgrade reflects Wall Street's optimism about Micron's long-term profitability driven by AI computing power demand.