SanDisk (SNDK) shares surged 6.3% on Thursday following a significant price target increase from Bernstein SocGen analyst Mark C. Newman, who raised his projection by 25% to $1,250 per share. This comes on the heels of an impressive 2,040% rise in the stock over the past year, with Newman suggesting that the upward momentum could continue. He posits a “blue-sky scenario” where the stock could potentially reach $3,000 if NAND memory chip prices keep climbing.
This bullish outlook is underpinned by Newman’s expectation that NAND prices have already exceeded forecasts, with the upcoming fiscal Q3 2026 earnings report set for April 30 providing crucial insights. For fiscal 2027, he anticipates earnings of $224 per share, indicating that current market estimates may be undervaluing the semiconductor’s growth potential.
Investors should remain cautious, however, as SanDisk has reported losses in recent years. The volatility of semiconductor cycles means that while growth could be robust, a downturn in NAND prices could quickly alter the landscape.
Source: fool.com