On June 16, GraniteShares 2x Long MU Daily ETF rose 8.04% in pre-market trading, trading at $952.05/share, with turnover of $8.4145 million. The leveraged ETF, which provides 2x daily exposure to Micron Technology, surged following a wave of bullish analyst actions on the underlying stock.

On June 15, TD Cowen raised its target price on Micron Technology from $660 to $1,500, while RBC Capital Markets lifted its target from $525 to $1,200. RBC noted that the memory-chip upcycle has room to continue for another five to six quarters, supported by stronger DRAM and NAND pricing, robust generative AI demand, and limited industry supply growth. These upgrades follow UBS previously tripling its target to $1,625 on the back of long-term agreements that structurally reduce earnings volatility and shift valuation toward a growth-stock framework.

Nova Capital maintains a buy rating with a $1,300.5 target, while market consensus on Micron's upcoming third-quarter results shows wide dispersion, with EPS estimates ranging from $7.53 to $24.08 per share.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)