SanDisk price target raised to $62 from $58 at Benchmark

Benchmark raised the firm’s price target on SanDisk (SNDK) to $62 from $58 and keeps a Buy rating on the shares. The firm, which added SanDisk to its Best Ideas List, says the NAND business is entering a cyclical upturn driven by AI opportunities and double-digit data center spending growth which is expected to raise NAND demand and prices, the analyst tells investors in a research note. Benchmark believes that SanDisk’s next gen products, with BiCS8 chips and ultra QLC technology, will drive share gains in the enterprise SSD market.