Mandanas buys Energy Vault (NRGV) shares worth $20,520
Investing.com - Morgan Stanley raised its price target on SanDisk (NASDAQ:SNDK) to $96.00 from $70.00 on Thursday, while maintaining an Overweight rating and elevating the stock to Top Pick status. The stock, currently trading at $73.92, has shown remarkable strength with a 105.33% gain year-to-date. According to InvestingPro analysis, SanDisk appears slightly overvalued at current levels.
The price target increase reflects Morgan Stanley’s bullish outlook on the NAND memory market, driven by recent large orders from multiple hyperscalers for NAND enterprise solid-state drives (eSSDs), totaling tens of exabytes.
These orders represent a significant portion of the total NAND market, which Morgan Stanley expects to reach 250-300 exabytes for calendar year 2025, potentially driving NAND pricing higher than previous expectations of flat to declining prices in Q4.
Morgan Stanley noted that SanDisk is already reportedly seeking to raise prices by 10% in channel and consumer markets, supporting the firm’s above-consensus projections for 2026.
While acknowledging that SanDisk needs to improve its position in the enterprise SSD market, Morgan Stanley expressed optimism that the company’s BICs 8 transition could serve as a catalyst for market share gains.
In other recent news, SanDisk reported impressive financial results for the fourth quarter of fiscal year 2025. The company achieved revenue of $1,901 million, marking a 12% increase from the previous quarter and an 8% rise year-over-year. Non-GAAP earnings per share exceeded expectations at $0.29. Following this, Benchmark raised its price target for SanDisk to $85, maintaining a Buy rating, due to the company’s decision to increase prices by over 10% across its products.
Cantor Fitzgerald reiterated its Overweight rating and $50 price target, noting that market expectations for data storage growth in 2025 are slightly higher than pre-earnings projections. Despite lower earnings guidance for the September quarter, Cantor Fitzgerald maintained its positive outlook, attributing some of the guidance miss to a longer 14-week quarter. Goldman Sachs also maintained its Buy rating with a $55 price target, acknowledging SanDisk’s strong revenue performance but cautioning about lower margin guidance for the third quarter. These recent developments highlight SanDisk’s strategic moves and its position in the market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.