On June 11, Wolfe Research became the latest Wall Street entity to catch up with Micron (NASDAQ: MU) stock’s staggering rally by issuing a massive 12-month price target upgrade.
Specifically, analyst Chris Caso reaffirmed his previous ‘Buy’ rating for MU shares on Thursday, but revised his previous $550 forecast by increasing it by a staggering 127% to $1250.
The raise was justified by an updated expectation for the pricing increase through late 2026 and all of 2027, as well as by forecasting revenue growth to $226.5 billion and earnings per share (EPS) to $135 during the next year.
Notably, Micron’s EPS for the 12 months ended on February 28, 2026, was $21.18 – itself a 405.49% year-over-year increase.
Lastly, at a more shallow level, the 12-month MU stock price target upgrade was also driven by the equity’s rapid rally between late March and early June.
The previous $550 forecast implied a 40% downside, while the updated $1,250 prediction hints at a 36.37% rally between $916.62 at press time and the final weeks of the first half of 2027.
Wall Street sets Micron stock price target for next 12 months
Zooming out, Micron stock appears to command significant Wall Street confidence, with the relatively low average 12-month price target – $975 for a 6.42% rally – appearing to be a direct consequence of the rapid rally since March.
Additionally, the mismatch between the consensus figure and the actual institutional attitudes toward MU shares is further corroborated by the overall rating being a ‘Strong Buy,’ and the scale of recent forecast revisions.
Since June 1, at least five revisions featured a doubling of price targets, with three notable exceptions.
UBS’ Timothy Arcuri merely retained his already high $1,625 forecast, Bernstein’s Mark Li stuck to the previous $510 estimate despite also giving a ‘Buy’ recommendation, and James Schneider gave the only recent ‘Hold’ rating while raising the prediction from $400 to $900.
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