In a significant development, Wolfe Research has become the latest Wall Street entity to catch up with Micron's (NASDAQ: MU) staggering rally, issuing a massive 12-month price target upgrade of 127% to $1,250. This move is a testament to the growing confidence in Micron's future prospects, driven by an updated expectation of pricing increases through late 2026 and all of 2027.
Analyst Chris Caso reaffirmed his previous 'Buy' rating for MU shares, citing 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 – a 405.49% year-over-year increase. This rapid growth is a clear indication of the company's strong performance and its potential for future success.
The 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. This significant increase in the price target is a clear indication of the growing optimism surrounding Micron's stock.
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. 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.
The technology-driven automation and workflow transformation in the industry is a key factor driving Micron's growth. The company's ability to adapt to these changes and innovate its products and services has been instrumental in its success. As the industry continues to evolve, Micron is well-positioned to capitalize on emerging trends and technologies.
The upgrade in Micron's stock price target is not only a testament to the company's strong performance but also a reflection of the growing confidence in the tech industry as a whole. As technology continues to play an increasingly important role in our lives, companies like Micron are poised to benefit from the growing demand for innovative products and services.
