Analysts Raise Sandisk Targets on NAND Surge

Bernstein raised its Sandisk price target to a Street-high $1,250, implying 47% upside, while Cantor Fitzgerald lifted its target to $1,000. Both firms cited faster-than-expected NAND flash price acceleration as the key catalyst. Sandisk shares surged 9% to $851.57 on double the average volume. Sandisk's pure-play NAND focus gives it outsized exposure to pricing gains, with Q2 revenue up 61% year over year and data-center revenue up 76%. Risks include potential AI capex slowdowns and new fab supply additions, though analysts see shortages persisting into 2028.