SanDisk price target raised to $380 from $230 at Wells Fargo

Wells Fargo raised the firm’s price target on SanDisk (SNDK) to $380 from $230 and keeps an Equal Weight rating on the shares. The firm has updated its bottom-up Semi industry model and reviewed key themes ahead. Wells would highlight Industrial and Electrical leading AI indicators, AI token-driven supply / demand model, and WFE die-to-wafer models.