Morgan Stanley analyst Joseph Moore has maintained their bullish stance on SNDK stock, giving a Buy rating on August 25.
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Joseph Moore’s rating is based on the observation that there is a significant demand increase for enterprise-grade solid-state drives (eSSDs), primarily driven by large-scale investments from hyperscale customers and a strategic shift from hard disk drives to solid-state storage. This shift is fueled by the growing needs in AI and the persistent tight supply of hard disk drives, leading to a reallocation of supply away from PCs and smartphones.
Additionally, potential supply disruptions due to new equipment restrictions and reduced output from major manufacturers like Samsung could further strengthen the demand for NAND products. SanDisk’s strategic position in the eSSD market, along with its ongoing advancements in technology, such as the BICS 8 process ramp, positions it well to capitalize on these market dynamics, justifying the Buy rating.
According to TipRanks, Moore is a 5-star analyst with an average return of 14.2% and a 60.23% success rate. Moore covers the Technology sector, focusing on stocks such as Intel, Marvell, and Nvidia.
In another report released on August 25, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $50.00 price target.