On May 27, SanDisk (SNDK) rose 3.6% in regular trading, trading at $1,632.33 USD/share, with trading volume of approximately $20.64 billion. The rally extends a multi-session recovery driven by a wave of Wall Street upgrades centered on the AI storage super cycle thesis.
Barclays upgraded SanDisk from Equal Weight to Overweight and raised its price target from $1,200 to $2,300, citing new long-term contract structures that lock in favorable supply-demand dynamics for NAND flash. The move followed UBS raising Micron Technology's target to Wall Street's highest level, which triggered a broad storage sector rally — Micron surged 19.3% and breached a $1 trillion market cap. Western Digital gained 8.3% in the same session. Additionally, Citi had previously raised its SanDisk target over 50% to $2,025, while analyst Fernandez set a $3,000 bull-case target based on just 7x FY2027 earnings, arguing the market underestimates SanDisk's core position in AI storage infrastructure.
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