Benchmark Co. analyst Mark Miller has maintained their bullish stance on SNDK stock, giving a Buy rating on October 16.
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Mark Miller has given his Buy rating due to a combination of factors that indicate strong future performance for SanDisk Corp. The company’s shares have experienced a significant increase, driven by projections of substantial growth in data center capacities and PC sales with AI chips, along with recent reports of rising memory chip prices. These factors suggest a robust demand for SanDisk’s products, which is expected to continue.
In a best-case scenario analysis, Miller estimates SanDisk’s FY27 non-GAAP earnings to be between $15.50 and $16.84 per diluted share. By applying forward P/E multiples of 12x to 13x, this analysis suggests a potential share price range of $180 to $220. This is notably higher than the current consensus target price of $115.44, indicating a strong upside potential. Additionally, anticipated sales growth and increased gross margins further support the Buy rating, as they point to improved profitability in the coming years.
In another report released on October 16, Mizuho Securities also reiterated a Buy rating on the stock with a $180.00 price target.