Wedbush analyst Matt Bryson has maintained an Outperform rating on Micron Technology (NASDAQ: MU) and raised the price target to $1300, up from the previous $550. This adjustment signals increased confidence in the company's performance and future prospects.

The revised target highlights a significant upside potential for the stock based on the firm's analysis. Investors holding shares in Micron Technology may see this as a reinforcement of the company's growth trajectory.

The decision to maintain the Outperform rating alongside the higher price target underscores the analyst's view that Micron Technology is well-positioned in the market.

Micron Technology (NASDAQ: MU) received a bullish update from Deutsche Bank as analyst Melissa Weathers maintained a Buy rating and raised the price target to $1500 from $1000. This adjustment aligns with a broader wave of optimism on Wall Street, where TD Cowen recently lifted its target to $1500 from $660, RBC Capital increased its forecast to $1200 from $525, and Wolfe Research set a new target of $1,250. The stock currently holds a Buy rating with a consensus price target of $927.29.

Analyst Forecasts Move Higher

Wolfe Research projects fiscal 2027 revenue of $226.5 billion and earnings of $135 per share, driven by memory demand expected to outpace supply through at least 2027 due to limited cleanroom capacity. The firm anticipates high-bandwidth memory (HBM) pricing will rise as suppliers seek margins closer to traditional DRAM products. Other firms have followed suit; Goldman Sachs lifted its target to $900 with a Neutral rating, while Wells Fargo raised its forecast to $1,220 with an Overweight rating.

Earnings Remain the Next Major Catalyst

Investors are focused on Micron’s earnings report scheduled for June 24. Analysts project earnings of $19.46 per share, a significant increase from $1.91 in the prior-year period. Revenue is expected to reach $34.07 billion, compared with $9.30 billion a year earlier.

Micron Technical Picture Remains Bullish

Micron continues to trade in a strong long-term uptrend, sitting 12.2% above its 20-day simple moving average of $882.85 and 162.5% above its 200-day moving average of $377.38. The moving-average structure remains constructive, with the 20-day average above the 50-day average, and the 50-day average above the 200-day average. However, momentum has cooled as the MACD indicator remains below its signal line, suggesting potential consolidation. The next key resistance level is near $1,089.50.