Raymond James analyst Melissa Fairbanks upgraded SanDisk (SNDK) to Outperform from Market Perform with a $725 price target The firm sees opportunities for further share upside, driven by the demand and pricing implications of an “unprecedented” datacenter and artificial intelligence cycle. SanDisk’s demand is “exceptionally strong and likely only growing” while supply is tightening to the point of potentially being sold out for the year, the analyst tells investors in a research note. Raymond James sees limited new supply coming online in the near term, supporting continued strong pricing going forward. It views SanDisk as a key beneficiary of a mix-shift toward longer-lived datacenter builds.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SNDK:
- SanDisk Stock Explodes 17% on Q2 Earnings Beat — Buy SNDK or Wait?
- Closing Bell Movers: Apple reverse post-earnings gains; Sandisk rallies
- Western Digital says to monetize remaining SanDisk shares
- Kioxia, Sandisk extend Yokkaichi JV agreement through 2034
- SanDisk sees Q3 EPS $12.00-$14.00, consensus $4.33