This Analyst Just Upped the Price Target on SanDisk Stock. Here's Why.

This Analyst Just Upped the Price Target on SanDisk Stock. Here's Why. Wajeeh Khan Wed, July 1, 2026 at 9:09 PM GMT+2 2 min read SNDK A photo of a Sandisk Solid State Drive by Top Popular Vector by Shutterstock SanDisk (SNDK) shares have already experienced a meteoric rally in the trailing 12 months, but a senior Bank of America analyst remains convinced that they're not out of juice just yet.

Wamsi Mohan maintained a "Buy" rating on the flash memory specialist and raised his price target to $2,500, signaling potential upside of nearly 24% from current levels. More News from Barchart Dear Microsoft Stock Fans, Mark Your Calendars for August 1 Heavy Advanced Micro Devices Call Options Volume Today - Is AMD Undervalued? From Zero to $15 Billion, Qualcomm's AI Roadmap Gets a Boost From Modular Acquisition Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox.

Sign Up Now! Note that SanDisk stock is currently trading at more than 7x its price at the start of 2026. www.

barchart. com Why BofA Remains Bullish on SanDisk Stock Mohan expects NAND prices to push higher as supply-demand imbalance persists through 2027. For the current quarter, he estimates bit growth at 13% and ASP growth at 35% (sequentially).

He's bullish on SanDisk mostly because of a fundamental shift in how it operates; the company is moving away from the highly volatile spot-market cycles, locking clients instead into multi-year long-term agreements (LTAs). This helps the Nasdaq-listed firm secure fixed pricing floors that insulate its revenue from quarter-to-quarter volatility that typically plagues the memory market, the BofA analyst told clients. Crucially, technical momentum seems to agree with his positive stance as well, given Barchart has a "100% BUY" opinion on SNDK shares at the time of writing.

SNDK Shares Aren't Super Expensive to Own Bank of America views the relentless expansion of artificial intelligence infrastructure as a major catalyst for SanDisk shares. AI clusters require massive volumes of high-speed, unstructured data storage, directly translating to an unprecedented demand for enterprise solid-state drives (SSDs). According to Mohan, this secular tailwind is transforming the broader NAND industry into a much more profitable, less cyclical marketplace, with SNDK's gross margin headed toward the 80% threshold.

All in all, SanDisk isn't particularly expensive to own at 32x forward earnings, given its guidance for more than 30% sequential growth in revenue to $7. 75 billion (at least) in the current quarter, he concluded. What's the Consensus Rating on SanDisk?

Other Wall Street analysts agree with Mohan on SanDisk as well. Story Continues The consensus rating on SNDK stock sits at "Strong Buy" currently, with price objectives as high as $3,250 indicating potential for a more than 60% rally from here. www.

barchart. com On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.

This article was originally published on Barchart.