SanDisk Corp (SNDK) stock rebounded on Friday from a fall yesterday with the help of a top Wall Street analyst. Five-star Citi analyst Asiya Merchant reiterated a Buy rating and an $875 price target for SNDK stock, suggesting a possible 41.45% upside for the data storage company’s shares.
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New trading tool for SNDK bullsMerchant highlighted the benefits of the AI boom and the need for data centers in her coverage of SanDisk Corp. She said, “SNDK is a beneficiary of this favorable environment, additionally coupled with its Bics8 qualifications, serving as a competitive moat, and with increasing mix to data center further benefiting its margins through the longer-term.”
SanDisk Corp stock started to bounce back today on praise from the analyst. This was a welcome change for shareholders, as a new report from Google (GOOGL) dropped SNDK stock yesterday. This report covered TurboQuant, a new compression algorithm that reduces memory requirements for AI servers, which stoked fears that memory and data storage needs for AI will drop.
SanDisk Corp Stock Movement Today
SanDisk Corp stock was up 3.16% on Friday, extending a 162.18% year-to-date gain. The shares have also rallied 1,131.71% over the past 12 months, serving as a clear example of how the AI boom has benefited SNDK.
SNDK stock trading activity today saw some 7.5 million shares change hands, compared to a three-month average daily trading volume of about 18.98 million shares.
Is SanDisk Corp Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for SanDisk Corp is Strong Buy, based on 12 Buy and three Hold ratings over the past three months. With that comes an average SNDK stock price target of $700, representing a potential 12.08% upside for the shares.
