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Micron Stock (MU) Gets a 43% Price Target Hike from Wolfe Research. Here’s Why
Top analyst Chris Caso of Wolfe Research raised his price target on Micron Technology MU +1.59% ▲ by 43% to $500 from $350 ahead of its Q2 FY26, scheduled for March 18. The 5-star analyst maintained an Outperform rating on the stock, citing a sharp rise in memory prices and strong demand from AI systems over the next few years.
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It is worth noting that Caso ranks 110th out of more than 12,000 analysts tracked by TipRanks. He has a success rate of 63%, with an average return per rating of 26.60% over a one-year timeframe.
Why Wolfe Research Is Bullish on Micron
Caso said memory prices are rising much faster than expected. In his model, DRAM prices could jump about 100% year-over-year in 2026, while NAND prices may rise around 95% during the same period.
This trend is largely tied to the rapid growth of artificial intelligence systems. In particular, Caso pointed to rising demand for high-bandwidth memory (HBM) and DDR5, two key types of memory used in advanced AI servers.
At the same time, growing AI workloads are pushing companies to use more memory in each processor. As a result, platforms built by Nvidia NVDA +0.88% ▲ and Google (GOOGL) are expected to require much larger amounts of memory in the coming years. Wolfe Research now estimates that combined HBM and DDR demand could rise about 124% in 2026 and 143% in 2027.
Given this demand, Caso expects Micron to deliver strong growth in the coming years. He forecasts that the company will generate about $94 billion in revenue and $44 in earnings per share in 2026, followed by around $125 billion in revenue and $61 EPS in 2027.
Is Micron a Good Stock to Buy?
Micron stock has a consensus Strong Buy rating among 27 Wall Street analysts. That rating is based on 26 Buy and one Hold recommendations assigned in the last three months. The average MU price target of $438.44 implies 8.76% upside from current levels.
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