Mizuho Micron · MU

Mizuho Reiterates Outperform Rating on Micron

Analyst: Vijay Rakesh 1 min read Reproduced verbatim
Rating
Outperform
Unchanged
Target
$480
Unchanged
Outcome
Reached
on April 22, 2026

Mizuho’s latest target on Micron is now $1,400 (Oct 1, 2026); the median of 27 firms is $1,540. Mizuho has reached 88% of its year-old targets (69 scored).

Mizuho and Micron logos

What the analyst said

Mizuho analyst Vijay Rakesh reiterated an Outperform rating and $480.00 price target on Micron Technology (NASDAQ: MU).

“We see continued upside for MU into earnings on March 18, with memory and pricing tailwinds, as hyperscaler Capex continues to ramp (2026E Capex now estimated up 59% y/y).

We see: 1) MayQ Rev/EPS of $25.0B/$11.13 (8% above consensus $21.9B/$10.30) and AugQ Rev/EPS at $27.2B/$12.25 (7% above consensus of $24.2B/$11.48), 2) Upside with DD% q/q ASP growth in DRAM/NAND, while capacity adds remain limited, 3) HBM3e demand remains strong ahead of HBM4 launches with 30-45% higher ASP vs.

HBM3e tailwinds in 2026E, and strong LPDDR5 demand as we see 3X content on Rubin vs Blackwell, 4) NAND also seeing AI drive tailwinds with QLC eSSD and 3YY/4XXL transitions in 2026-27E.

Reiterate MU at Outperform-$480PT with a strong memory market and AI demand delivering better pricing/margins and supply remaining tight.”

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Where the price stands

MU trades at $725. The 27 analysts who set a target in the last 3 months range from $1,200 to $3,000, with a median of $1,540. This $480 target is 69% below the median, the lowest on the Street.

Since the note MU has moved +73% (from $419). 12-month window: day 243 of 365, closes on March 12, 2027.

Track record

This call✓ Target reached on April 22, 2026, 3 months after the note. Same target as this firm’s January 27, 2026 note, so it is scored there.

Firm track recordMizuho: 88% of its 69 targets at least a year old were reached within 12 months (#2 of 26 firms); on Micron, 9 of 9. Accuracy ranking →

Mizuho on Micron

Mizuho price targets on Micron

8 calls from October 17, 2025 to April 10, 2026. The target went from $240 to $545 (+127%). The rating stayed Buy.

Mizuho targetMU share price
  1. April 10, 2026Target raised from $530 (+3%)Buy$545
  2. March 19, 2026Target raised from $480 (+10%)Buy$530
  3. March 12, 2026 This noteKept the $480 targetBuy$480
  4. January 27, 2026Target raised from $290 (+66%)Buy$480
  5. December 18, 2025Target raised from $270 (+7%)Buy$290
  6. December 4, 2025Target raised from $265 (+2%)Buy$270
  7. October 28, 2025Target raised from $240 (+10%)Buy$265
  8. October 17, 2025Earliest call shownBuy$240
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Other analysts on Micron

Bank of AmericaBuy Kept ratingReiterated Oct 26 DA DavidsonBuy Kept rating and price targetReiterated Oct 22 $3,000maintained CantorBuy Kept rating and price targetReiterated Oct 20 $2,000maintained DA DavidsonBuy Raised price target +43%, kept ratingRaised target Oct 7 $3,000from $2,100+43% BairdBuy Kept rating and price targetReiterated Oct 2 $1,520maintained
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.