Micron target raised to $2,000 after Q3 revenue tops $41.46 billion
MU•Susquehanna raised its Micron Technology price target to $2,000 from $1,750 following fiscal Q3 revenue of $41.46 billion and adjusted EPS of $25.11 that beat estimates. It guided Q4 revenue around $50 billion and EPS near $31, and forecast FY27 free cash flow over $110 billion based on 16 customer agreements.
1. Record Fiscal Third-Quarter Performance
Micron reported fiscal Q3 revenue of $41.46 billion and adjusted EPS of $25.11, surpassing consensus estimates of $35.91 billion and $20.86, respectively, while achieving a gross margin of 84.9%.
2. Susquehanna Raises Price Target
Susquehanna raised its price target on Micron to $2,000 from $1,750, the highest on Wall Street, driven by record results and a forecast of more than $110 billion in free cash flow for fiscal 2027.
3. Strategic Agreements and Outlook
The company highlighted 16 strategic customer agreements covering roughly one-fifth of DRAM and one-third of NAND production, provided Q4 guidance of about $50 billion in revenue and $31 in EPS, and signaled structural margin resilience via price floors.
