What the analyst said
Mizuho analyst Vijay Rakesh raised the price target on SanDisk (NASDAQ: SNDK) to $1,220 (from $1,000) while maintaining an Outperform rating.
“SNDK reported a strong MarQ and guided JunQ up 35% q/q to $8B (WELL AHEAD of $6.65B consensus); JunQ GMs UP ~5,400bps y/y to 80% (cons. 74%), with pricing tailwinds. Key takeaways: 1) pricing remains strong as supply is tight through 2026E, with JunQ ASP we estimate up ~22%;
2) New Business Model with RPO at $42B with 3 customers, and UPSIDE as it added 2 more and PRICING trending higher,
3) NAND spot Px up 36-81% YTD, contract Px up ~52% q/q in JunQ,
4) DC revenue accelerating up 230% q/q (640% y/y) with KVCache, as first BiCS Stargate QLC eSSDs and TLC ramp, and
5) we believe HBF remains on track with initial SSD controllers in 1HC27E.
Reiterate SNDK at Outperform, raise F27/28E EPS estimates 20%/39%, ABOVE consensus, PT to $1,220 (prior: $1,000).”
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Where the price stands
SNDK trades at $1,002.
Since the note SNDK has moved −9% (from $1,097). 12-month window: day 194 of 365, closes on May 1, 2027.