Micron Technology (MU)
Micron Technology received two positive analyst updates on Monday as investors prepared for its fiscal fourth-quarter earnings report on Wednesday. Robert W. Baird raised its 12-month price target to US$1,520 from US$1,280 and maintained an Outperform rating. Wedbush reiterated its Outperform rating with a US$1,400 target.
Baird’s US$240 increase, or 18.75%, signals greater confidence in Micron’s earnings potential, while Wedbush’s unchanged target shows continued support for the stock ahead of a potentially volatile earnings release.
Micron shares closed September 28 at US$1,053.98, down 2.61% for the session. From that closing price, Wedbush’s target implies approximately 32.8% upside, and Baird’s target implies approximately 44.2% upside over the analysts’ forecast horizon.
The fundamental case for Micron centres on high-bandwidth memory and other memory products used in AI servers and data centres. In its most recent reported quarter, fiscal Q3 2026, revenue reached US$41.46 billion, up from US$9.30 billion a year earlier. Micron’s guidance for fiscal Q4 calls for approximately US$50 billion in revenue, an 86% gross margin and US$31.00 in non-GAAP diluted earnings per share, each subject to the ranges in the company’s guidance. The company also said its HBM4 product was in high-volume shipment for a lead customer’s platform. These results and guidance help explain why analysts remain positive despite the stock’s substantial advance.
Micron’s stock forecast currently shows a Strong Buy technical signal, while analyst sentiment is also rated as a Strong Buy. The average analyst 12 month price target is $1,516 per share, which implies approximately a 44% upside from the current trading price. The technical signal suggests positive price momentum, and the current analyst rating points to a favourable consensus outlook, in which together these 2 metrics present a bullish view of the stock.
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