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.
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