Jefferies Raises PT on Sandisk (SNDK) Stock

Sandisk Corporation (NASDAQ:SNDK) is one of the Best Multibagger Stocks to Buy for Long Term. On April 10, Jefferies lifted its price objective on the company’s stock to $1,000 from $700 and maintained a “Buy” rating on the shares. As per the firm, ongoing long-term agreement negotiations as well as AI demand are the factors that are helping further increase in NAND prices. Also, the firm expects such dynamics to result in positive revisions for Sandisk Corporation (NASDAQ:SNDK).

Jefferies Raises PT on Sandisk (SNDK) Stock

Notably, the price target of $1,000 is on the basis of a 10x multiple applied to the CY 2028 EPS estimate of $95.26. As per the analyst, the firm has been outlining its thoughts on the present memory landscape in conjunction with the rise in price objective. Sandisk Corporation (NASDAQ:SNDK) is anticipated to start shipping QLC eSSDs to 2 Tier 1 customers over the upcoming quarters. The firm opines that this can fuel market share gains in its Data Center business.

Sandisk Corp. (NASDAQ:SNDK) is a semiconductor and flash storage hardware company.

While we acknowledge the risk and potential of SNDK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SNDK and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best FMCG Stocks to Invest In According to Analysts and 11 Best Long-Term Tech Stocks to Buy According to Analysts.

Disclosure: None. Follow Insider Monkey on Google News.