Micron Technology Inc. (MU) is having a pretty good Monday, and Wall Street's memory chip enthusiasts are feeling confident about where it's headed next.

What's Driving The Optimism: Wedbush analyst Matt Bryson upped his price target on Micron from $220 to $300 while maintaining an Outperform rating. The timing matters here—the company reports fiscal first-quarter earnings after Wednesday's close, and expectations are running high.

Wedbush's $300 target is based on 10 times its updated fiscal 2027 earnings per share estimate. The real story, though, is what's happening with DRAM prices. The firm notes that spot prices jumped sharply during September and October, and chipmakers have been pushing through price hikes for smaller customers. When memory prices are rising, that's generally good news for companies that make memory chips.

Rosenblatt analyst Kevin Cassidy is equally bullish, maintaining a Buy rating with a $300 target of his own.

All eyes are on Wednesday's earnings report. Analysts expect Micron to deliver $3.93 per share in earnings on $12.81 billion in revenue, according to market data.

The Analyst Picture: The bullish momentum has been building. Rosenblatt and Wedbush both set $300 price targets on Monday with Buy and Outperform ratings respectively. Earlier this month, Stifel and Citigroup maintained Buy ratings while raising their targets to $300 from $195 and $275. Deutsche Bank also jumped on board recently with a Buy rating and $280 target, up from $200 previously.

That's a lot of analysts feeling good about memory chips right now.

MU Price Action: Micron Technology shares traded up 0.67% at $242.86 at the time of publication on Monday.