Analysts Lift Micron Target to $1,200 as FY2027 Outlook Tops Estimates
Updated
Updated · CNBC · Oct 1
Analysts Lift Micron Target to $1,200 as FY2027 Outlook Tops Estimates
3 articles · Updated · CNBC · Oct 1
Summary
Micron’s blowout quarter and stronger fiscal Q1 guide prompted analysts to raise their price target to $1,200 from $1,100 while reiterating a buy-equivalent rating.
Revenue jumped 379% year over year to $54.23 billion and adjusted EPS surged 1,002% to $33.42, both above LSEG consensus, as AI-driven memory demand kept outstripping supply.
For fiscal Q1 2027, Micron forecast $61.5 billion in revenue and $38.15 in adjusted EPS, both ahead of expectations, while saying gross margin should bottom near 86.25% before improving.
Supply tightness looks durable: about 75% of Micron’s 2027 output is already committed, strategic customer agreements rose to 26 from 16, and some deals are being extended to 2031.
The company is boosting fab investment to meet demand, and easing CHIPS Act buyback limits in December could open room for a large repurchase program backed by strong free cash flow.