Melius Research Starts Sandisk at Buy, $1,350 Price Target
- Rating
- Buy
- New coverage
- Target
- $1,350
- First target
- Upside
- +38%
- SNDK at $979 today
The median of 8 current targets on sandisk is $2,175.
What the analyst said
Melius analyst Ben Reitzes initiates coverage on SanDisk (NASDAQ: SNDK) with a Buy rating and a $1,350 price target.
“We are initiating coverage of Sandisk and Micron with Buy ratings and 2-year targets of $1,350 (36% upside) and $700 (41% upside), respectively. When we launched our AI-centric coverage in 2023 – we made a bet that semis and hardware could re-rate as AI comes of age.
Our launch on memory is a bit of the same – but with a different twist. It is time to acknowledge memory is core to our AI coverage, fitting well with AI semis, AI hardware and hyperscalers. We initiate coverage of Micron (MU) and Sandisk (SNDK) with Buy ratings and a view that the AI memory cycle could keep going through the end of the decade and that the market will eventually be willing to pay more for the unusual durability of the margin and demand profiles that AI makes possible across HBM, DRAM, and NAND markets.”
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Where the price stands
SNDK trades at $979.
Since the note SNDK has moved −1% (from $990). 12-month window: day 198 of 365, closes on April 27, 2027.