SanDisk Receives 'Buy' Recommendation from JPMorgan, Shares Rise Over 8%
On Monday, SanDisk (NASDAQ:SNDK) saw its stock price rise by 8.88% to $1,786.85 per share following a new 'buy' recommendation and an upgraded price target of $2,250 from JPMorgan. The investment firm cited the company's strong position in the expanding NAND flash memory market driven by artificial intelligence demand. SanDisk also introduced a new business model framework covering eight key customers with guaranteed volumes for fiscal years 2027 and 2028. Additionally, SanDisk outlined its technology roadmap at an Investor Day event, including upcoming BiCS9 and BiCS10 QLC nodes that will significantly increase bit density. The company projected mid-to-high teens revenue growth from FY2028 to FY2030 with non-GAAP gross margins expected around 80% and operating margins near 75%. Institutional investor interest in SanDisk has grown, as evidenced by increased hedge fund holdings and a notable position held by Situational Awareness.
Tickers: $SNDK
Topics: AI demand NAND flash memory market price target upgrade stock recommendation