UBS has raised its price target for Micron Technology to $1,625, up from $535, while maintaining a "Buy" rating. The bank's report highlights stable long-term agreements across the industry, projecting Micron's earnings per share (EPS) to exceed $100 between 2027 and 2029. UBS also increased its adjusted EPS forecasts for fiscal years 2026 to 2028 by 8% to 25%, with estimates of $63.74, $142.23, and $169.64, respectively. UBS expresses confidence in a more normalized valuation multiple for Micron in the market.