SanDisk price target raised to $385 from $220 at Barclays

Barclays analyst Tom O’Malley raised the firm’s price target on SanDisk (SNDK) to $385 from $220 and keeps an Equal Weight rating on the shares. The firm adjusted ratings and price targets in the semiconductors and semiconductor capital equipment group as part of its 2026 outlook. Barclays sees 2026 as another where proximity to the artificial intelligence theme will be the most important driver of stock performance. The analyst prefers names “centric to the pillars of the AI ramp,” saying quality will “ultimately rise to the top in a year sure to be mired with debate on how much of this opportunity can actually deploy.”