Micron Technology (MU) stock continued to trend higher in Friday’s pre-market trading after gaining more than 5% on Thursday. The stock is getting fresh attention from Wall Street ahead of its fiscal fourth-quarter earnings on September 30, with RBC Capital, Deutsche Bank, and TD Cowen offering bullish views this week. Ahead of the earnings report, Wall Street still sees significant upside, with an average MU price target of $1,563.93, implying 60% upside.
For context, Wall Street expects Micron to report Q4 FY26 earnings per share (EPS) of $31.16, reflecting a significant jump from $3.03 in the prior-year quarter. Revenue is projected to surge more than 345% to $50.46 billion, driven by strong AI-led demand for memory and higher pricing.
Here’s what analysts expect from MU stock ahead of the Q4 print.
Analysts Are Bullish on MU Stock Ahead of Earnings
In a new report, RBC Capital Markets analyst Srini Pajjuri reiterated an Outperform rating on Micron with a $1,500 price target, indicating 53% upside from the current level. He expects another strong quarter, forecasting $50 billion in revenue and $31.09 in adjusted EPS for Q4 FY26.
Pajjuri, a 5-star analyst at TipRanks, said the “DRAM upcycle” could have another five quarters to run, supported by robust AI demand and supply constraints. He also expects HBM prices to rise 80% to 100% in 2027, which could support Micron’s overall memory pricing.
Also, Deutsche Bank analyst Melissa Weathers reiterated a Buy rating on Micron, citing stronger fundamentals ahead of earnings. Weathers expects the memory market to remain tight, with DRAM bit demand growing about 21% annually through 2030.
Earlier this week, TD Cowen analyst Krish Sankar reiterated a Buy rating on Micron with a $1,600 price target. The 5-star analyst expects strong demand to support Micron’s upcoming Q4 FY26 results, while margins could see slower growth. Looking ahead, Sankar expects Q1 FY27 EPS of about $37, above his prior $35 estimate and Wall Street’s forecast. He sees gross margins peaking at around 89% in Q2 2027, but believes the demand cycle could still have significant room to run.
Meanwhile, Goldman’s analyst James Schneider maintained a Hold rating on Micron with a $1,100 price target. Despite his Hold rating, the 5-star analyst expects Micron to report “another strong quarter” as supply-demand conditions remain tight. For Q4 FY26, Schneider expects Micron to report $51.9 billion in revenue, about 3% above the Street’s expectations. He also forecasts Q4 FY26 EPS of $32.54 and a gross margin of 87.3%. For Q1 FY27, Schneider expects Micron to guide for low-teens quarter-over-quarter revenue growth. He expects product mix and higher pricing to drive the increase.
Is MU Stock a Good Buy Right Now?
Wall Street has a Strong Buy consensus rating on Micron stock, with 29 Buys versus only one Hold rating. The average MU stock price target of $1,563.93 indicates 60% upside potential. MU stock has rallied 246% year-to-date.
