Goldman Raises Micron Price Target as Earnings Soar

Goldman Sachs has raised its price target for Micron Technology MU to $1,250 from $1,100 after the memory-chip maker posted quarterly results that exceeded Wall Street expectations. The analyst firm maintained a Neutral rating despite the strong earnings beat.

Micron reported fiscal fourth-quarter revenue of $54.23 billion and adjusted earnings of $33.42 per share. This represents a significant increase from last year's revenue of $11.32 billion and adjusted earnings of $3.03 per share, according to Goldman analyst James Schneider.

Schneider highlighted the strong demand for Micron's products and the growing base of customer commitments. The company now has 26 long-term agreements covering about 35% of projected revenue through fiscal 2030, with approximately 75% carrying structured pricing.

However, Goldman Sachs still expresses caution regarding potential industry supply pressures in 2028, which could impact high-bandwidth memory pricing.