Micron Stock Climbs As Wedbush Says Shares Are Headed To $300

Micron Technology Inc (NASDAQ:MU) shares climbed on Monday after Wedbush reiterated its bullish stance and lifted its price target.

• Micron Technology stock is showing upward movement. Why is MU stock trading higher?

What Happened: Wedbush analyst Matt Bryson maintained an Outperform rating on Micron and raised the price target from $220 to $300 ahead of the memory chip manufacturer’s fiscal first-quarter earnings report scheduled for after Wednesday’s closing bell.

Wedbush's new target is based on 10 times its updated fiscal 2027 earnings per share estimate, according to Investing.com. The firm pointed to steep increases in DRAM spot prices during September and October, with chipmakers also hiking prices for smaller customers.

Adding to the bullish sentiment, Rosenblatt analyst Kevin Cassidy kept a Buy rating on Micron and maintained a $300 target, reinforcing confidence in the stock.

Investors are now focused on Micron's upcoming report this week. Analysts expect earnings of $3.93 per share on $12.81 billion in revenue, according to Benzinga Pro.

MU Analyst Ratings

Analysts continue to show bullish sentiment towards Micron Technology with a trend of maintaining Buy ratings. The most recent actions include Rosenblatt and Wedbush maintaining their ‘Buy’ and ‘Outperform’ ratings, respectively, both setting a price target of $300 on Monday.

Earlier in the month, Stifel and Citigroup also maintained their Buy ratings for Micron, revising their price targets upwards to $300 from prior targets of $195 and $275 respectively. Notably, Deutsche Bank also recently maintained a Buy recommendation, setting a target of $280, up from $200 earlier, underscoring the overall positive outlook for the tech company.

MU Price Action: Micron Technology shares were up 0.67% at $242.86 at the time of publication on Monday, according to Benzinga Pro.

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