On June 11, GraniteShares 2x Long MU Daily ETF (MULL) rose 8.58% in regular trading, reaching $635.85 per share, with trading value of approximately $85.23 million. As a 2x leveraged product tracking Micron Technology, MULL amplified the underlying stock's gains driven by a wave of bullish analyst actions.

On the news front, multiple Wall Street banks sharply raised their target prices on Micron Technology in rapid succession. Goldman Sachs raised its 12-month target from $400 to $900, citing tightening memory supply and surging demand, while lifting revenue and EPS estimates for fiscal 2026 and 2027 by an average of 28% and 36% respectively. Daiwa Securities raised its target to $1,600 maintaining a Buy rating, while UBS reiterated Buy with a $1,625 target. Morgan Stanley previously doubled its target to $1,050, emphasizing that the memory shortage could persist two to three years. Additionally, confirmation that Nvidia's partnership with SK Hynix is non-exclusive reassured markets that Micron's HBM supply position remains intact ahead of its June 24 earnings report.

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