Bernstein Lifts PT on Sandisk Corporation (SNDK)

Sandisk Corporation (NASDAQ:SNDK) is one of the best stocks on the rise to invest in. Bernstein lifted the price target on Sandisk Corporation (NASDAQ:SNDK) to $3,000 from $1,700 on June 29 and maintained an Outperform rating on the shares. The firm told investors in a research note that the new memory long-term agreements, or LTAs, are different from older ones. It clarified that old LTAs were written in favor of the customer, while newer LTAs have fixed or range-bound prices, have longer terms, and include upfront financial commitments to lock in customers and protect downside.

Bernstein added that based on the data provided by companies, the firm estimates Sandisk Corporation’s (NASDAQ:SNDK) floor price in recently signed LAs is 29c per GB, which compares to a floor price for Micron meaningfully below fiscal Q2 levels. Sandisk Corporation (NASDAQ:SNDK) also received a rating update from BofA on July 1. The firm lifted the price target on the stock to $2,500 from $2,100 and reaffirmed a Buy rating on the shares.

Sandisk Corporation (NASDAQ:SNDK) is involved in the development, manufacture, and provision of storage devices and solutions based on NAND flash technology. The company’s products include solid-state drives, memory cards, and USB flash drives.

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