Why Top Analysts Are Bullish on Micron Stock (MU) - Price Targets Soar Ahead of Q4 Earnings

Wall Street's brightest minds are loading up on Micron optimism as earnings season approaches. The semiconductor giant's stock is drawing unprecedented analyst upgrades—and the timing couldn't be more strategic.

The Memory Market Momentum

DRAM and NAND flash demand continues defying expectations. Supply constraints meet relentless data center expansion, creating the perfect storm for memory pricing power. Forget cyclical worries—this looks structural.

AI-Driven Demand Surge

Artificial intelligence workloads chew through high-bandwidth memory like nobody's business. Micron's tech sits squarely in the sweet spot of the AI infrastructure boom. That's not speculation—it's already happening in Q3 numbers.

The Price Target Revolution

Multiple firms have lifted targets well into triple-digit territory. The consensus? Current valuations don't reflect the new paradigm. One analyst even joked that traditional valuation models 'need a firmware update' for this cycle.

Smart money positions before earnings drops. Dumb money waits for confirmation. The question isn't whether Micron will beat—but by how much they'll crush expectations.

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Susquehanna Raises Price Target to $200 on EPS Strength

Susquehanna analyst Mehdi Hosseini increased his price target to $200 from $160, arguing that Micron’s earnings power is not fully reflected in the stock. He expects the company to deliver a “beat-and-raise” Q4 quarter and raise guidance, supported by stronger pricing and margins.

The 5-star analyst dismissed concerns about falling high-bandwidth memory (HBM) prices in 2026, saying demand should stay firm. Hosseini pointed to the MOVE from HBM3e in 2025 to HBM4 in 2026, which could lift prices by at least 50%. He also sees growth in GDDR7, enterprise SSDs, and DRAM adding to the strength.

The analyst said memory makers are keeping spending disciplined, which supports supply and pricing. Even if equipment costs rise in 2026, revenue should grow faster. With a stronger mix of high-value products, Hosseini believes Micron’s earnings power is not yet fully priced in.

Wolfe Research Sees $180 Target on HBM Upside

Likewise, Wolfe Research analyst Chris Caso raised the price target to $664 from $547, while keeping an Outperform rating. He said Micron’s outlook has improved since its upbeat pre-announcement in August, citing stronger NAND demand from hard drive shortages and better DRAM pricing helped by server strength.

The analyst now sees FY26 revenue at $49.5 billion with EPS of $13.13, slightly above his prior forecast. For FY27, he projects $56.3 billion in revenue and $16.43 EPS, driven by 60% growth in HBM, 14% growth in NAND, and flat DDR.

Looking ahead, Caso described HBM as a “significant content driver” for Micron in 2027.

Is Micron a Good Stock to Buy? 

Micron stock has a consensus Strong Buy rating among 29 Wall Street analysts. That rating is based on 25 Buy and four Hold recommendations assigned in the last three months. The average MU price target of $157.33 implies 1.66% downside from current levels.