Wall Street Analysts Believe Micron (MU) Could Rally 30.04%: Here's is How to Trade

Core Viewpoint - Micron's stock has seen a 6.7% increase over the past four weeks, closing at $117.21, with a potential upside of 30% based on Wall Street analysts' mean price target of $152.42 [1][4]. Price Targets and Estimates - The mean estimate consists of 33 short-term price targets with a standard deviation of $26.08, indicating variability among analysts [2]. - The lowest estimate is $75.00, suggesting a 36% decline from the current price, while the highest estimate is $200.00, indicating a potential surge of 70.6% [2]. - A low standard deviation among price targets suggests a high degree of agreement among analysts regarding the stock's price movement [9]. Earnings Estimates - Analysts are optimistic about Micron's earnings prospects, as indicated by a positive trend in earnings estimate revisions, which has shown a strong correlation with near-term stock price movements [11]. - Over the last 30 days, the Zacks Consensus Estimate for the current year has increased by 3.6%, with seven estimates moving higher and no negative revisions [12]. Zacks Rank - Micron currently holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimates [13].