Bank of America analyst Wamsi Mohan raised the SanDisk (SNDK) price target to $2,500. The previous target was $2,100. Mohan reiterated a Buy rating on the stock.
The upgrade stems from an expected NAND flash memory supply-demand imbalance through 2027. This shortage is projected to sustain strong pricing for the company. SanDisk is increasingly using long-term supply agreements to improve revenue visibility and growth modeling.
SanDisk shares declined in recent trading despite the positive analyst outlook. Bank of America expects June quarter results to surpass consensus estimates. The firm forecasts a 35% quarter-over-quarter increase in average selling prices.