Micron (MU) Stock: Bulls Are Out in Force — Three Firms Lift Targets in One Week

TLDR

• Wolfe Research raised its price target on MU to $1,250 from $550, keeping an Outperform rating
• Goldman Sachs lifted its target to $900 (Neutral); Wells Fargo raised to $1,220 (Overweight)
• Micron stock rose ~11% on Thursday; was down 0.97% at $986.23 in Friday premarket
• Earnings due June 24 — analysts forecast EPS of $19.46 vs $1.91 a year ago
• Memory demand expected to outpace supply through at least 2027, possibly 2028

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Micron Technology (MU) stock was trading at $986.23 in Friday premarket, down 0.97%, following a near 12% surge on Thursday. That move came as Wall Street analysts lined up to raise their price targets on the memory chipmaker.

Micron Technology, Inc., MU

Wolfe Research made the most eye-catching call of the week, lifting its target to $1,250 from $550 while keeping an Outperform rating. That’s a massive revision, and it signals just how much the firm’s view on memory pricing has shifted.

Wolfe said its updated model reflects sharper price gains for both DRAM and NAND in 2026 and 2027. The firm now projects fiscal 2027 revenue of $226.5 billion and earnings of $135 per share for Micron.

The firm also expects high-bandwidth memory (HBM) pricing to keep climbing. Suppliers are pushing for margins closer to those on traditional DRAM products, and Wolfe thinks demand will stay ahead of supply through at least 2027 — possibly into 2028.

Cleanroom capacity constraints are a key part of that thesis. Limited physical space for chip production means bit shipment growth will be harder to ramp, keeping supply tight even as AI-driven demand grows.

Wolfe wasn’t alone. Goldman Sachs maintained its Neutral rating but raised its price target to $900. Wells Fargo reiterated its Overweight rating and lifted its forecast to $1,220. Susquehanna, DA Davidson, and Mizuho also raised targets in recent days.

The consensus among analysts currently sits at a Buy rating, with an average price target of $927.29.

Earnings on June 24 Are the Next Focus

Micron’s next earnings report is scheduled for June 24. Analysts are expecting EPS of $19.46, up sharply from $1.91 in the same quarter last year. Revenue is projected at $34.07 billion, compared to $9.30 billion a year ago.

Those are big numbers, and the market will be watching closely to see if Micron can deliver.

Technical Picture

Technically, MU is in a strong long-term uptrend. The stock sits 12.2% above its 20-day moving average of $882.85 and 162.5% above its 200-day moving average of $377.38.

The moving average structure remains bullish — the 20-day is above the 50-day, which is above the 200-day. That’s the kind of stacked alignment trend-followers like to see.

That said, momentum has cooled. The MACD indicator is sitting below its signal line, suggesting the recent rally may be taking a breather.

The next key resistance sits near $1,089.50, close to Micron’s 52-week high zone.

Broader market conditions were supportive on Friday, with Nasdaq futures up 0.60% and S&P 500 futures gaining 0.65%.

Wolfe’s $1,250 target currently stands as the most bullish on Wall Street.

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