Micron Technology (NASDAQ:MU) is poised to release its fourth quarter fiscal 2025 financial results next week, prompting Susquehanna to increase its price target on the stock as they expect the memory maker to produce strong results and outlook on the back of higher-value products.
“While the anticipated beat-and-raise from Micron’s Aug-Q report may already be reflected in the share price, we believe the market has yet to fully reflect the potential for $20 annualized EPS,” said Susquehanna analysts, led by Medhi Hosseini, in an investor note. “Investors’ concerns around a potential collapse in HBM ASPs in 2026 persist – a view we strongly disagree with.”
Susquehanna increased its price target on the stock to $200 from $160 and maintained its Positive rating.
The firm believes Micron’s shift towards higher-value products such as high-bandwidth memory will help propel the stock.
“Within HBM alone, HBM3e is migrating from 8h in 2025 to 12h in 2026, while higher bandwidth is expected to lead to at least 50% ASP increase in HBM4 ASP over HBM3E,” Hosseini said. “Inferencing is also expected to drive higher demand for GDDR7 while commodity DRAM ASP (for DDR4/5, LPDRAM) are all expected to experience higher Y/Y ASP in 2026.”
Micron plans to report its fourth quarter results post-market on Tuesday, Sept. 23. The consensus estimate calls for adjusted earnings per share of $2.86 on revenue of $11.11B.