Shares of Micron (MU) - Get Micron Technology, Inc. (MU) Report are flying higher Wednesday, up 4.6% to $46 so far in early trading. Micron stock is adding to its weekly gains, now up 9%.

Helping fuel the recent run is the company's earnings. Sales surged more than 70% year-over-year as Micron beat on earnings per share and revenue expectations. Guidance came in ahead of expectations as well.

Investors will be looking for Micron to ultimately retest its 52-week highs near $50 after the report. Of course, analysts are jumping all over the stock as well. With a tight DRAM market, worries easing over NAND pricing and an extremely low valuation, why not be optimistic?

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The most glowing report comes from Rosenblatt analyst, who bumped their price target to $85 from $75. The price target implies about 93% upside from Tuesday's close. They're not the only bulls, though.

Analysts at JPMorgan and Deutsche Bank both bumped their price target to $60 from $55. Barclays and Credit Suisse are also using fresh $60 price targets as well. While far below Rosenblatt's $85 target, $60 still represents more than 36% upside.

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With four analysts calling for $60, that level appears to be the consensus. There were a few others below that level, too. Wells Fargo analysts bumped their target to $54 from $45, Citigroup went to $55 from $51 and Loop Capital went to $56 from $48.

I realize that's a lot of price targets to take in. But the consensus is pretty clear: Micron shares are going higher. At least in the minds of analysts. Of those listed above, the lowest price target is $54. From Wednesday's open near $46, that implies about 17% upside.

Given the more than 100% rally so far in 2017, a further 17% rally (and possibly more) would surely delight Micron investors.

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This article is commentary by an independent contributor. At the time of publication, the author had no positions in the stocks mentioned.