What the analyst said
Evercore ISI analyst Amit Daryanani lowered the price target on SanDisk (NASDAQ: SNDK) to $2,800 while maintaining an Outperform rating.
“Net/Net: While Sept-qtr revenue guidance was modestly below the Street, the 83–85% gross-margin outlook was well ahead of consensus, with margins expected to remain above 80% as NBMs ramp. Five new agreements bring NBM coverage to more than 50% of FY27 bits and roughly two-thirds of FY28 bits, providing strong outyear visibility.
We view next week’s analyst day as the next catalyst, with further detail expected on capital allocation and the HBF opportunity. Sticking with our OP rating but lowering our target to $2,800.”
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Where the price stands
SNDK trades at $998.
Since the note SNDK has moved −26% (from $1,351). 12-month window: day 97 of 365, closes on August 6, 2027.