Analyst Says Sandisk Corp. (SNDK) Offers More Than 100% Upside. Should You Buy?

Sandisk Corp. (NASDAQ:SNDK) is on the AI Stocks Dominating List of Biggest Winners.

Sandisk saw its share price climb by 13.69 percent on Wednesday to end at $977.69 apiece, after an analyst reiterated its bullish rating and a price target with over 150 percent upside potential.

In its market note, investment firm Evercore ISI reiterated its outperform rating and $2,500 price target for Sandisk Corp., marking a 156 percent upside potential from its latest closing price, arguing that data center demand remained robust, with customers asking for more supply for AI systems to be deployed.

Sandisk Corporation (SNDK) Secured Billions in Contracted Revenue: Is the Memory Boom Just Getting Started?

For illustration purposes only. Photo from SanDisk’s website

Additionally, it believed that investors were underestimating structural changes to the memory maker’s business, saying that they were “overly focused on how long NAND pricing can stay elevated rather than appreciating the structural changes to SNDK’s model.”

Management is said to be on a different strategy, in which suppliers manage output to match demand rather than simply maximizing production.

Price increases, it noted, have now lasted for six quarters, versus only two historically.

“[New business models]  + supply discipline should support more durable profitability, while AI demand + [high bandwidth flash] provide incremental growth opportunities,” Evercore ISI said.

In other news, Sandisk Corp. late last month reported a strong earnings performance in the first quarter of fiscal year 2027, with net income soaring 7,133 percent to $8.1 billion from $112 million in the same period last year, thanks to strong demand for its NAND products.

Revenues soared by 378 percent to $11.03 billion from $2.3 billion year-on-year.

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