Bank of America Lifts SanDisk Price Target to $2,100
Bank of America raised its price target on SanDisk (SNDK) to $2,100 from $1,550, driven by robust NAND demand, favorable pricing trends, and new long-term supply agreements.
Key Numbers
Bank of America raised its price target on SanDisk (NASDAQ:SNDK) to $2,100 from $1,550, citing robust NAND demand, favorable pricing trends, and a new wave of long-term supply agreements. The upgrade was announced at BofA's 2026 Global Technology Conference.
Recommendation Change
The analyst lifted the price target by approximately 35% from $1,550 to $2,100, while maintaining a "Buy" rating.
Analyst's Rationale
The analyst believes SanDisk is well-positioned to benefit from:
- Strong NAND demand: Increasing demand for high-capacity storage in data centers and AI applications.
- Favorable pricing trends: Improved NAND chip selling prices after a period of decline.
- Long-term supply agreements: New contracts with key customers provide revenue visibility.
Context
SanDisk's stock (SNDK) has performed well over the past year, supported by the memory sector's growth. Other analysts have mixed views, but the upgrade from Bank of America boosts confidence.
What to Make of It
The price target increase reflects optimism about SanDisk's growth, but investors should consider NAND market volatility and intense competition.
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