Micron Technology stock price target raised to $180 from $160 at Wolfe Research

Investing.com - Wolfe Research raised its price target on Micron Technology (NASDAQ:MU) to $180.00 from $160.00 on Wednesday, while maintaining an Outperform rating on the memory chipmaker’s stock. The company, currently valued at $177.74 billion, has demonstrated remarkable momentum with an 89% gain year-to-date. According to InvestingPro data, Micron is trading near its 52-week high of $160.34, with analysis suggesting the stock is currently fairly valued.

The price target increase follows Micron’s positive pre-announcement in August, with Wolfe Research noting improved NAND sentiment driven by hard disk drive shortages, while DRAM pricing has remained resilient, possibly due to stronger server trends. This optimism is supported by Micron’s strong financial health, earning a "GREAT" rating from InvestingPro’s comprehensive analysis, which includes 15+ additional insights available to subscribers.

Wolfe Research raised its fiscal year 2026 revenue estimate to $49.5 billion from $48.5 billion previously, and increased its earnings per share forecast to $13.13 from $13.03. The firm also introduced fiscal year 2027 estimates of approximately $56.3 billion in revenue and $16.43 in earnings per share.

The new price target is based on approximately 11 times the firm’s fiscal year 2027 earnings per share estimate of $16.43, with Wolfe Research noting that Micron currently trades at 9.7 times its fiscal year 2027 earnings projection, below its two-year average multiple of 11 times.

Micron’s stock has increased 82% over the last twelve months, outperforming Samsung’s 23% rise but trailing SK Hynix’s 114% gain during the same period.

In other recent news, Micron Technology has been the focus of several analyst upgrades. UBS raised its price target for Micron to $185, citing strong demand and improving market fundamentals, particularly from hyperscalers looking for server DDR5 memory. Similarly, Mizuho increased its price target to $182, highlighting the potential upside from high bandwidth memory (HBM) and a constructive DRAM-NAND market. Deutsche Bank also raised its target to $175 due to DRAM supply tightness, marking its second estimate increase for the company this quarter.

Micron is scheduled to report its fiscal fourth-quarter 2025 results on September 23, 2025, after the market closes. Meanwhile, Stifel has issued a positive outlook for the company, noting potential growth in the data center market driven by improved hyperscaler forecasts. Additionally, Micron saw a stock price increase of approximately 3% as part of a sector-wide rally following new export regulations expected to benefit flash pricing. These developments indicate a period of active interest and positive sentiment surrounding Micron Technology.

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