With just under three months of 2026 in the books, the stock market has been anything but predictable. Investors have crushed many software stocks, and notably, every name in the Magnificent Seven is in the red. Overall, the S&P 500 Index is down over 3%, and recently broke through an important technical level, falling below its 200-day simple moving average.
Despite this, there have been clear areas of strength in the market. This includes names that have continued to build on impressive 2025 performances and others that are experiencing significant recoveries. Furthermore, although the market has not rewarded it, analysts are growing increasingly bullish on one of the top names in the Magnificent Seven.
Relatively early in 2026, MarketBeat identified these three stocks as being among the most upgraded by Wall Street analysts, with price targets forecasting considerable upside ahead.
Micron Takes Crown as Most Upgraded Stock of 2026
Starting at the top, memory chip stock Micron Technology (NASDAQ: MU) has garnered the most analyst upgrades of any stock. Overall, MarketBeat has tracked 40 analyst upgrades on MU, a figure that aligns with the stock’s impressive performance in 2026. During the year, Micron is already up over 30%, adding to its massive 240% gain seen in 2025.
Analysts continue to take a bullish stance on Micron. The MarketBeat consensus price target currently sits near $453, implying around 20% upside in shares.
Additionally, although Micron shares fell following its latest earnings release, analysts became significantly more optimistic afterward.
The average target among analysts issuing updates after the report came in at approximately $548, suggesting shares could rise by more than 40%. However, investors should note that MU also garnered two Hold or equivalent ratings after its report.
The huge gains in Micron shares have come amid a shortage of a key component used in artificial intelligence (AI) data centers: high-bandwidth memory (HBM). Micron is one of just three companies, along with Korean firms Samsung Electronics (OTCMKTS: SSNLF) and SK Hynix, that make HBM. All three of these companies are effectively sold out of their HBM capacity for 2026, giving them immense pricing power over customers. This dynamic helped Micron’s revenues grow by 196% year over year last quarter, while its gross margin also rose by a huge 1800 basis points.
Historic Market Share Gains Help Lead FDX Shares and Price Targets Higher
A somewhat surprising name that makes this list is FedEx (NYSE: FDX). With 35 upgrades, it is MarketBeat’s second most upgraded stock of 2026. In 2025, FedEx shares delivered a total return of just 5%, significantly underperforming the S&P 500’s nearly 18% gain. This was partially attributable to tariffs, which present a headwind to global trade, and thus to FedEx’s shipping business. In April of 2025, in the wake of President Trump’s Liberation Day announcement, FedEx shares were down as much as 31%.
However, the stock has recovered significantly since then, as FedEx has shown resilience. The stock returned 28% in the second half of 2025 and is up more than 20% in 2026. This comes as FedEx has gained market share in the United States and managed its costs effectively. In its latest quarter, FedEx said it achieved its “strongest profitable market share growth” in over 20 years.
Looking ahead, the MarketBeat consensus price target on FedEx sits near $394, implying just over 10% upside in shares. The average of targets updated after the company’s recent earnings report is moderately higher at $411, suggesting around 15% upside.
However, it is worth noting that among the roughly a dozen updated targets, a quarter of analysts assigned a Hold or equivalent rating to the stock. Morgan Stanley also placed an Underweight rating.
Updated Targets Eye +30% Gains in GOOGL
Last up is Google parent company Alphabet (NASDAQ: GOOGL), which ranks as the fourth most upgraded stock of 2026 with 31 upgrades. (Seagate Technology (NASDAQ: STX) ranks slightly higher with 32 upgrades, but analysts are also forecasting less upside ahead compared to Google.)
Google provided an impressive total return of 66% in 2025, with big gains coming in the second half of the year. This return was driven by growth across many of Google’s key business lines, and excitement around the firm’s Gemini AI model.
The MarketBeat consensus price target on Google is approximately $367, implying over 20% upside. However, there has been a notable divergence between Google shares and analyst price targets since the company’s last earnings report. Despite beating estimates on both sales and adjusted earnings per share, the stock is down over 10% since.
This is partially due to Google’s 2026 capital expenditure guidance of $175 billion to $185 billion, which came in far above expectations.
Meanwhile, analysts are growing increasingly bullish. Among analysts issuing price targets after Google’s report, the average moved up to $383. This figure suggests the stock could rise by over 30%. Out of 32 updated targets, Google received just four Hold or equivalent ratings while receiving 28 Buy or equivalent ratings.
MU, FDX, and GOOGL Are Winning the Hearts of Analysts
Overall, Micron, FedEx, and Google are clearly garnering significant support from the analyst community. While this is positive, investors should also remember not to take price targets as gospel, and they can change quickly based on new developments. Furthermore, targets forecast prices 12 months out, which can leave out important context surrounding long-term plays.
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The article "Analyst Optimism: MarketBeat's Most Upgraded Stocks of 2026" first appeared on MarketBeat.
