$MU — Recent Analyst Ratings (Last 30 Days)

CONSENSUS: Bullish — 5 bullish, 1 bearish, 0 neutral across 6 ratings. No upgrades or downgrades — all reiterations/maintains.

Top Signals (pre-ranked):

• Baird — Outperform, PT raised $1,280 → $1,520 (+18.8%) · Bullish · 9/28 (today, pre-earnings)
• Wells Fargo — Overweight, PT lowered $1,525 → $1,400 (-8.2%) · Bearish · 9/23
• Citigroup — Buy, PT raised $1,150 → $1,300 (+13.0%) · Bullish · 9/23
• Rosenblatt — Buy, PT held $1,500 · Bullish · 9/24
• Wedbush — Outperform, PT held $1,400 · Bullish · 9/28
• RBC Capital — Outperform, PT held $1,500 · Bullish · 9/18

Key Takeaways:

• Two significant PT raises this week (Baird +18.8%, Citi +13%) and one notable cut (Wells Fargo -8.2%) — the street is splitting between extending the target higher and trimming into the print. Wells Fargo's cut two days before earnings is the lone directional caution, and it rhymes with the flow read: the desks selling calls ($1,050–$1,200 walls) are betting on containment, not extension.
• Baird's +18.8% raise landed this morning, right after MU's +13% run to the $1,108 high — textbook lagging-indicator behavior. Upgrades/raises after a rally are confirmation, not a catalyst. Treat the street's bullishness as sentiment confirmation of the move that already happened.
• The divergence worth noting: every street target ($1,300–$1,520) sits above the $1,200 sold-call wall from the options flow. Analysts see $1,300+; the derivative desks are paying to cap it below $1,200 into Wednesday. One of them is wrong — and Wednesday's reaction decides which.
• All 6 PTs are 25–45% above spot (~$1,045) — the fundamental community remains far more constructive than the event-driven flow positioning.