Benchmark Co. analyst Mark Miller maintained a Buy rating on SanDisk Corp today and set a price target of $62.00.
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Mark Miller has given his Buy rating due to a combination of factors that highlight SanDisk Corp’s potential for growth. One of the primary reasons is the anticipated increase in NAND prices, which is expected to benefit the company significantly. The NAND market is projected to experience a supply shortage in the second half of 2025, which could lead to higher prices and increased profitability for SanDisk.
Additionally, SanDisk is launching new enterprise SSDs aimed at gaining a larger share in the cloud market. With hyperscale customers increasing their data center spending by 40% this year, SanDisk is well-positioned to capitalize on this trend. The company has already seen an increase in its cloud shipments, which now account for 12% of its total bit shipments, up from 8% in the previous year. Positive comments from industry peers like Micron and Kioxia further support the optimistic outlook for the NAND market, reinforcing the Buy rating for SanDisk.
Miller covers the Technology sector, focusing on stocks such as Onto Innovation, SanDisk Corp, and Amtech Systems. According to TipRanks, Miller has an average return of 16.0% and a 53.07% success rate on recommended stocks.
In another report released yesterday, Bank of America Securities also reiterated a Buy rating on the stock with a $61.00 price target.