Micron Technology (MU) is set to report its Q4 results for FY25 on September 23, with Wall Street looking for EPS of $2.78 on revenues of $11.12 billion. Ahead of the earnings print, Top analysts at Susquehanna and Wolfe Research boosted their price targets for MU stock and reaffirmed a Buy rating, reflecting their upbeat stance on the memory chipmaker. Let’s look at the reasons for the bullish outlooks of these two analysts.
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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 better-than-expected results in the fourth quarter and lift its outlook.
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 $180 from $160, 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.
