Analyst Wamsi Mohan of Bank of America Securities reiterated a Buy rating on SanDisk Corp, boosting the price target to $300.00.
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Wamsi Mohan has given his Buy rating due to a combination of factors that suggest a positive outlook for SanDisk Corp. The NAND market is anticipated to remain undersupplied until at least the end of 2026, which is expected to drive strong demand growth, particularly from sectors like datacenters and AI. Additionally, SanDisk’s eSSD production is ramping up, potentially leading to market share gains, while the company continues its transition to the BiCS8 node, enhancing its technological edge.
Moreover, SanDisk’s management is strategically planning for future demand by negotiating longer-term contracts with customers eager to secure volumes amidst the current market undersupply. The company’s balanced portfolio, which includes a robust consumer segment and a growing presence in datacenters, further supports its growth potential. Mohan also highlights the undervaluation of SanDisk’s joint venture assets and the cost reductions from nodal transitions as key factors contributing to the Buy rating, alongside the raised price objective to $300, reflecting confidence in the company’s future profitability.
In another report released on November 17, Bernstein also assigned a Buy rating to the stock with a $300.00 price target.