Multiple prominent Wall Street analysts took Micron’s (NASDAQ: MU) latest earnings report – published on September 30 – to provide their revised 12-month stock ratings and price targets.
To begin with, Mizuho Securities’ Vijay Rakesh reiterated his previous MU ‘Buy’ rating on Wednesday, but upgraded the forecast from $1,300 – 22.05% higher than the latest close at $1,065.11 – to $1,400, a 31.44% anticipated upside.
James Schneider from Goldman Sachs, however, proved less bullish on the same day, repeating the previous ‘Hold’ recommendation and maintaining the $1,100 Micron stock price target.
On October 1 – hours after the quarterly earnings were published – TD Cowen analyst Krish Sankar proved impressed enough to reiterate the ‘Buy’ rating but insufficiently awed to budge on his $1,600 forecast.
Gil Luria from D.A. Davidson, on the other hand, set a new $2,100 Street high on Thursday, effectively predicting MU shares can soar another 97.16% in the next 12 months, while confirming his positive recommendation.
Micron records 250% revenue surge in 2026, MU shares remain flat
Meanwhile, the filing that triggered the revisions showed Micron enjoyed an exceptionally strong quarter in the closing months of its fiscal year 2026 (FY2026).
The memory giant achieved revenue – $54.23 billion instead of $51.07 – and earnings per share (EPS) beat – $33.42 versus $31.61 – and saw its gross margin expand to 87%.
Similarly, the guidance for the first quarter (Q1) FY2027 came in above expectations, with sales forecasted at $61.5 billion and EPS at $38.15. Still, the margin forecast is anticipated to shrink to 86.25%, which is also below the analyst estimate of 86.4%.
Simultaneously, the whole-year results proved even more impressive, with revenue at $133.19 billion – a 256.31% increase from $37.38 billion in FY2025.
Notably, the strong results failed to produce a decisive move in the stock market. After an initial upsurge and the following plunge, MU shares eventually landed roughly where they closed on Wednesday.
Specifically, at press time in the Thursday pre-market, Micron stock is changing hands at $1,062.75, 0.22% below the $1,065.11 recorded at the end of the September 30 regular session.
Micron stock could plunge to $700 after 2029
Lastly, a longer-term forecast that emerged after the Q4 FY2027 earnings proved significantly more bearish than either the results or the 12-month Wall Street assessments might suggest.
Specifically, despite the overall strong numbers, Micron also recorded a slowdown in pricing expansion, leading Morningstar to conclude that the final stretch of the ongoing cyclical upswing has started and that it will peak in 2028.
Thus, their report foresees a steep downturn in 2029, leading to a fair value downgrade for Micron stock from $850 per MU share to $700 – 34.28% below the latest close and 66.67% below the 12-month Street high price target of $2,100.
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