** UBS raises PT on memory chipmaker Micron Technology MU.O to $400 from $300

** New PT implies an upside of 16.5% to the stock's last close

** Brokerage notes severe supply shortages and slow capacity additions underpin an extended memory upcycle

** "Suppliers are now getting paid for best-in-class performance as memory has become a key differentiator within hardware systems (i.e., NVDA's Blackwell and Blackwell Ultra)" - UBS

** Avg rating of 46 analysts is "buy;" their median PT is $305 - data compiled by LSEG

** Stock more than tripled in 2025

(Reporting by Anhata Rooprai in Bengaluru)

((Anhata.Rooprai@thomsonreuters.com))