These Analysts Increase Their Forecasts On Micron After Better-Than-Expected Q1 Results

Core Insights - Micron Technology Inc. reported better-than-expected earnings for Q1 fiscal 2026, with revenue of $13.64 billion, surpassing analyst estimates of $12.83 billion, and adjusted earnings of $4.78 per share, exceeding estimates of $3.95 per share [1][2] Financial Performance - In fiscal Q1, Micron achieved record revenue and significant margin expansion across all business units [2] - The company projects Q2 revenue of $18.7 billion, with a variance of $400 million, compared to estimates of $14.16 billion, and anticipates adjusted earnings of $8.42 per share, with a variance of 20 cents [2] Stock Market Reaction - Following the earnings announcement, Micron shares increased by 11.4%, trading at $251.54 [2] Analyst Ratings and Price Targets - B of A Securities upgraded Micron from Neutral to Buy, raising the price target from $250 to $300 [4] - Rosenblatt maintained a Buy rating, increasing the price target from $300 to $500 [4] - Mizuho maintained an Outperform rating, raising the price target from $270 to $290 [4] - Piper Sandler maintained an Overweight rating, increasing the price target from $200 to $275 [4] - Raymond James maintained an Outperform rating, raising the price target from $190 to $310 [4] - Morgan Stanley maintained an Overweight rating, increasing the price target from $338 to $350 [4] - Keybanc maintained an Overweight rating, raising the price target from $215 to $325 [4] - Cantor Fitzgerald maintained an Overweight rating, increasing the price target from $300 to $350 [4] - Wedbush maintained an Outperform rating, raising the price target from $300 to $320 [4] - Wells Fargo maintained an Overweight rating, increasing the price target from $300 to $335 [4] - UBS maintained a Buy rating, raising the price target from $295 to $300 [4]