New Delhi, June 15 -- six Wall Street firms raising price targets on Micron Technology Inc. in a compressed window, some of them within hours of each other. The memory giant's shares were up more than 8 percent before noon. The number that had been $550 at Wolfe Research less than a week earlier was now $1,250. At Cantor Fitzgerald it was $1,500. At Daiwa, $1,600.

what happens on June 24 when Micron reports earnings against the bar that just got raised?

The mechanics of the upgrade wave are not complicated. UBS, which set the morning in motion, said it now expects Micron's fiscal third-quarter revenue and earnings per share to come in materially above the company's own guidance, citing stronger-than-anticipated memory pricing. That read...