Micron Technology, Inc. (NASDAQ:MU) is among the stocks with the best earnings growth for the next 3 years. On June 11, TheFly reported that Daiwa significantly lifted the price target on Micron Technology, Inc. (NASDAQ:MU) to $1,600, up from $700, and reaffirmed a Buy rating. This implies an upside potential of nearly 49% from the current level.
On the same day, Wolfe Research raised its forecasts for the company to better reflect an approximately 45% price hike in fiscal Q3, in addition to higher pricing throughout the current year. The firm also raised CY27 estimates due to increased HBM pricing. Wolfe Research now expects $226.5 billion in revenue and $135 in EPS in 2027. No wonder Micron Technology, Inc. (NASDAQ:MU) is among the stocks with the best earnings growth for the next 3 years.
According to the firm, suppliers and key customers are signing long-term agreements for available supply over the years ahead. As suppliers try to close the gross margin gap, HBM pricing is set to rise, Wolfe Research noted. With that said, the firm elevated the price target on Micron Technology, Inc. (NASDAQ:MU) to $1,250 from $550 and maintained an Outperform rating.
Micron Technology, Inc. (NASDAQ:MU) is an Idaho-based company specializing in memory and storage products. Incorporated in 1978, the company operates through four segments, including the Cloud Memory Business Unit and Core Data Center Business Unit.
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