Micron Technology (MU) will report its fiscal Q1 earnings on Wednesday, December 17. Ahead of its results, five-star-rated analyst Matt Bryson at Wedbush raised his price target from $220 to $300, predicting over 25% upside from its current level.
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Bryson is a five-star analyst on TipRanks, ranked #26 among more than 10,000 analysts tracked. He boasts a 76% success rate and an impressive 65% average return per rating.
What Analysts Expect From Micron’s Q1 Earnings
For fiscal Q1 2026, analysts expect Micron to report earnings of $3.96 per share, up sharply from $1.79 in the same quarter last year. Meanwhile, revenue is projected to reach $12.90 billion, representing 48% year-over-year growth.
Why Wedbush Turned More Bullish on MU Stock
Along with raising his price target, Bryson also maintained his Buy rating on MU stock. Bryson is more confident that the company will see a stronger rise in average selling prices (ASPs) than previously expected, driven by improving conditions in the memory market.
Additionally, Bryson pointed to sharp gains in DRAM spot prices during September and October, along with meaningful price increases for smaller customers. NAND memory pricing also picked up, with notable gains in October and November, reinforcing the positive outlook for Micron.
For context, DRAM is fast memory for data a computer or server needs immediately, while NAND is long-term flash storage used in devices like SSDs and smartphones.
Notably, the $300 price target is based on 10 times Wedbush’s updated fiscal 2027 earnings estimate.
Other Analysts Weigh In on MU Stock
Wedbush isn’t the only bullish voice on Micron ahead of earnings. Five-star-rated analyst Kevin Cassidy at Rosenblatt Securities reaffirmed his Buy rating with a price target of $300 on MU stock yesterday.
Last week, top-rated analyst Brian Chin at Stifel lifted his price target on MU stock from $195 to $300. Chin expects Micron to deliver a solid earnings beat and provide an upbeat outlook for both fiscal Q1 results and Q2 guidance. He added that profit improvements and bit optimization, supported by favorable industry conditions, reinforce his positive view on the stock.
Is Micron a Good Buy?
Wall Street analysts maintain a Strong Buy rating on MU stock, with 27 Buys and three Holds assigned over the past three months. Meanwhile, Micron’s average price target of $260.28 implies about 10% upside from current levels.
