Micron (NASDAQ:MU) Price Target Raised to $300 Ahead of Earnings

Micron Technology Inc. (NASDAQ:MU) is experiencing a surge in optimism as several financial analysts have significantly raised their price targets for the stock to $300, driven by expectations of tightening memory markets and Micron's strategic positioning in the artificial intelligence (AI) sector.

This bullish sentiment precedes the company's upcoming earnings report, adding further anticipation to Micron's near-term performance.

Micron's stock is currently trading at $234.14 up 168% YTD, although 10% off recent highs. This valuation reflects a year marked by substantial growth, fueled by robust financial performance and positive market sentiment. The company's strategic moves in the AI sector, combined with strong demand for its memory products, have been pivotal in driving this appreciation.

Analyst Upgrades Raise The Bar For MU

Needham increased its price target for Micron to $300 from $200 today, reiterating a “Buy” rating. Needham anticipates a sustained tightening of the memory market, with demand outpacing supply throughout 2026.

This imbalance is projected to elevate the pricing of DRAM and NAND, prompting Needham to substantially revise its fiscal year 2026 and 2027 estimates. T

he firm now forecasts FY27 earnings per share (EPS) at $25.00, a significant increase from the earlier estimate of $19.25, and FY27 revenue at $68.2 billion, compared to the previous projection of $60.0 billion.

Other analysts have echoed this bullish outlook with similar price target adjustments.

Wolfe Research also raised its target to $300 from $200, citing favorable pricing trends driven by improved server demand and stability in the handset and PC segments. Wolfe Research even suggested a potential upside scenario where Micron could achieve $30 in EPS by 2027, contingent on a strong ramp-up in high-bandwidth memory (HBM) production that year.

Wedbush joined the chorus, increasing its price target to $300 from $220, maintaining an “Outperform” rating. Wedbush anticipates that Micron will benefit from a sharper increase in average selling prices (ASPs) than previously expected, attributing this to improved conditions in the memory industry in recent months.

Mizuho also boosted its price target to $300 from $195, retaining a “Buy” rating. The firm highlighted strong DRAM pricing, with quarter-over-quarter increases of 15% to 20%, driven by restricted supply and increasing demand. Mizuho also pointed to Micron's leadership in HBM used in AI accelerators, sustaining margins exceeding 30%.

The consensus on Wall Street seems to suggest that Micron's strategic focus on HBM, particularly its application in AI accelerators, positions the company favorably in a rapidly growing market. The anticipated supply constraints in the DRAM market further bolster the company's prospects for increased profitability.

Earnings are fast approaching after tomorrow's closing bell, with plenty likely to hinge on the print.