Micron Technology (MU) is in the news as investors gear up for its fiscal Q1 earnings report on December 17. The stock hit a new all-time high on Wednesday, reflecting strong Wall Street optimism. However, with MU shares having surged over 125% in the past six months, short-term upside may be limited despite continued bullish sentiment ahead of the results.
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For Q1 FY26, analysts expect Micron to post earnings of $3.9 per share, up from $1.79 per share in the same quarter last year. Meanwhile, revenue is projected at $12.78 billion, reflecting over 45% year-over-year growth.
Why HSBC Is Bullish on MU Stock
This week, analyst Ricky Seo at HSBC initiated a Buy rating on MU stock with a price target of $330. Seo believes that worries about Micron’s financial risks from new competitors and the Stargate Project are overblown. He says now is a good time to buy the stock, even though it has already outperformed this year, stating there is “plenty of room for further growth.”
HSBC also thinks the market is underestimating the benefits from the recent rise in commodity DRAM prices and Micron’s potential to gain more market share in the enterprise SSD (eSSD) segment — possibly reaching 25–30% by fiscal 2027, up from 15% in Q2 2025.
HSBC expects Micron’s operating profits to grow at a 125% annual rate from 2025 to 2027, with their estimates 23%, 44%, and 29% higher than the Wall Street consensus for those years.
Top Analysts Lift Price Targets on MU Stock
HSBC isn’t the only bullish voice on Micron ahead of earnings. Four-star-rated analyst Melissa Weathers from Deutsche Bank also raised her price target on MU stock, increasing it from $200 to $280. Weathers believes Micron is well-positioned to benefit from the next memory market cycle, with HBM (high-bandwidth memory) driving big changes in the industry that could support a higher stock valuation.
Overall, Deutsche Bank raised its full-year 2026 earnings estimate for Micron by almost 26%, now expecting EPS of $20.63, up from $16.41. It also increased its revenue forecast by 12%, to $59.66 billion from $53.2 billion.
In addition to Deutsche Bank, leading analysts at Bernstein, Citi, Susquehanna, and Bank of America have also raised their price targets for Micron 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. However, The recent surge has pushed the stock above its average price target of $249.59, implying a downside of roughly 5.35% from current levels.
