[DEVELOPING] Micron rises a fifth straight session to $1,011.75 after New Street's upgrade to Buy, $1,250 target
New Street Research's Pierre Ferragu upgraded Micron from Neutral to Buy on Friday 08-14 with a $1,250 target, arguing the stock is breaking structurally from the memory industry's boom-bust cycle; MU then added 4.13% on Monday 08-17 to close $1,011.75, a fifth consecutive advance and roughly 22% over two weeks. Standing backdrop, explicitly NOT fresh: the widely-quoted Samsung 'up to 20% Q3 DRAM increase' is TrendForce reporting dated 2026-07-03, and is carried here as context rather than news. What is newer is the contract structure — SK Hynix is reported to have scrapped price ceilings in long-term supply agreements to capture spot, while Micron retains both floors and ceilings tied to committed volumes, so it captures less of the spike than its Korean peers.