On June 15, GraniteShares 2x Long MU Daily ETF surged 17.55% in regular trading, reaching $836.8/share, with turnover of approximately $97.47 million. As a 2x daily leveraged product tracking Micron Technology, the ETF amplified gains driven by a wave of aggressive analyst upgrades on the underlying stock.

On the news front, TD Cowen raised its target price on Micron Technology from $660 to $1,500 while maintaining a buy rating, representing over 125% implied upside. This followed Daiwa Securities raising its target from $700 to $1,600, and Goldman Sachs lifting its target from $400 to $900 earlier in the week. Goldman Sachs analysts forecast Micron's fiscal Q3 revenue at $37.6 billion, approximately 9% above consensus, driven by tight DRAM supply conditions and surging HBM demand expected to persist through 2027. The average analyst target price currently stands at $927.85.

The confluence of multiple major investment banks issuing substantial target price increases within days reflects growing conviction in memory chip pricing power and AI-driven demand acceleration for Micron, which is directly magnified by this leveraged vehicle.

(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.)