Goldman Sachs raised the firm’s price target on SanDisk (SNDK) to $700 from $320 and keeps a Buy rating on the shares. The stock is expected to rise after a quarter and guidance that significantly exceeded Street expectations, surpassing even the most bullish investor forecasts, the analyst tells investors in a research note. Tight NAND supply, accelerating demand, and an improving product mix support the view that revenue and earnings could materially exceed Street estimates over the next 12 months, Goldman says.
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