Several analysts have raised their price targets for Micron Technology (MU) stock, ahead of the memory and storage solutions company’s results for the first quarter of Fiscal 2026 on December 17. On Friday, top Stifel analyst Brian Chin boosted the price target for Micron Technology stock to $300 from $195 and reiterated a Buy rating, saying that he expects Micron to “report and guide for meaningful upside to its F1Q(Nov) results and F2Q(Feb) outlook.”
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Meanwhile, Wall Street expects Micron to report earnings per share (EPS) of $3.93 for Q1 FY26, up about 120% year over year. Revenue is estimated to rise 47% to $12.82 billion.
Stifel Analyst Is Confident About Micron’s Q1 Results
Chin is upbeat about Micron’s upcoming results and outlook, given the solid demand for memory chips and the rise in memory prices towards the end of the year amid robust artificial intelligence (AI) infrastructure demand.
The 5-star analyst noted that while it is good that buyers are finally accepting higher prices, the usual worry in such cycles is that companies might expand capacity too rapidly to take advantage of strong demand. So far, though, Chin thinks that memory suppliers are focused on two things:
- supporting higher-value cloud memory products and customers, and
- raising prices to more profitable levels/GB for smartphone and client PC products.
“In the short-run, operating at higher utilization and lower inventory, output is more fixed and the concern for Micron is not about too much supply but rather too little,” said Chin.
Meanwhile, regarding Micron’s recent announcement to exit its retail memory business (Crucial), Chin thinks this move should help the company redirect bits from lower-value to higher-value products. Overall, profit and bit optimization amid continued favorable industry conditions keep Chin bullish on Micron.
Chin ranks No. 323 among more than 10,100 analysts tracked on TipRanks. He has a success rate of 64%, with an average return per rating of 26.10%.
Is MU Stock a Buy, Sell, or Hold?
With 27 Buys and three Holds, Wall Street has a Strong Buy consensus rating on Micron stock. The average MU stock price target of $257.52 indicates a 6.8% upside potential from current levels, given that shares have rallied more than 186% year-to-date.
