- TD Cowen raised the price target on Micron to $550 from $500 and kept a ‘Buy’ rating on the shares, indicating an upside potential of about 24%.
- Mizuho, and JPMorgan were also among analysts that hiked targets on Micron.
- Micron posted Q2 2026 results on Wednesday, blowing past Wall Street expectations.
Micron Technology Inc. (MU) has garnered attention on Wall Street, attracting a slew of price target revisions after posting blowout second-quarter (Q2) 2026 earnings results on Wednesday.
Among analysts that covered Micron, Cantor Fitzgerald gave the company’s shares the biggest boost, raising Micron’s price target to $700 from $450, with an ‘Overweight’ rating on the shares, as per TheFly. The update represents an upside potential of about 57% compared to MU’s current trading price of $444.42 at the time of writing.
TD Cowen, Mizuho, and JPMorgan were also among analysts that hiked targets on Micron.
Analyst Rationale
Cantor Fitzgerald analyst C.J. Muse said Micron delivered blowout results, driven by strong pricing across DRAM and NAND, adding that tight NAND supply would further support margins.
TD Cowen raised the price target on Micron to $550 from $500 and kept a ‘Buy’ rating on the shares, indicating an upside potential of about 24%. The analyst said that bears will likely push the "peak GM" theory that the stock peaks when gross margin peaks, but said that it disagrees, arguing that gross margins might peak near 90% later this year and that the focus should move to earnings durability.
Mizuho analyst Vijay Rakesh raised the firm's price target on Micron to $530 from $480 and maintained an ‘Outperform’ rating on the shares, citing "very strong" earnings results. Mizuho’s update indicates an upside potential of about 19%.
JPMorgan analyst Harlan Sur raised the price target on Micron to $550 from $350 and kept an ‘Overweight’ rating on the shares, adding that results "were strong and guidance was even better." The analyst said it believes the company's fundamental setup will remain favorable through 2026 and into 2027, and that MU stock’s risk/reward is skewed to the upside.
Q2 Earnings Snapshot
For the latest quarter, Micron’s revenue nearly tripled to $23.86 billion from $8.05 billion in the same period of the previous fiscal year. Wall Street had estimated a revenue of $19.18 billion, according to Fiscal.ai.
Earnings also beat analysts’ expectations, coming in at $12.20 per diluted share, compared to a projection of $8.66 per share.
For the third-quarter (Q3) of 2026, Micron forecast revenue of about $33.5 billion, plus or minus $750 million, versus Street expectations of $22.48 billion. The company projected record earnings per share of $19.15, plus or minus $0.40.
Meanwhile, MU shares declined about 3.85% at the time of writing as investor concerns around the semiconductor cycle's durability and capex concerns weighed down on the stock.
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