Micron Technology (MU) is set to report its Q2 results for FY26 on March 18, with Wall Street looking for EPS of $8.52 on revenues of $18.85 billion. Ahead of the earnings print, top Stifel analyst Brian Chin raised his price target to a new Street-high of $550.00 from $360.00, implying about 34.7% upside from current levels.
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It is worth noting that Chin ranks 163 out of more than 12,000 analysts tracked by TipRanks. He has a success rate of 67%, with an average return per rating of 36.60% over a one-year timeframe.
Why Chin Is Bullish on Micron
The 5-star analyst said memory pricing has risen much faster than expected, showing a clear gap between supply and demand. He noted the opportunity is not only in high-bandwidth memory (HBM) but also in server DDR5 memory, where margins could expand more than 80% and even surpass HBM.
He also pointed out that the consumer segment, once the weakest area, is improving as pricing per bit has roughly doubled in recent months. As a result, he now expects Micron’s overall margins to reach “unusually high levels” in the mid-to-upper 70% range by mid-year and stay strong through 2026.
Importantly, his supply checks indicate memory supply will remain tight over the next year, meaning pricing strength may continue. Because of this, Chin believes Wall Street estimates are still too low and could see upward revisions in coming quarters.
Reflecting that outlook, he raised his price target to $550, saying Micron’s earnings growth could effectively pull forward its expected FY27 performance by about a year, a potential upside the market has not fully priced in.
Is Micron a Good Stock to Buy?
Micron stock has a consensus Strong Buy rating among 27 Wall Street analysts. That rating is based on 26 Buy and one Hold recommendations assigned in the last three months. The average MU price target of $413.00 implies 1.15% upside from current levels.
