SanDisk Surges Nearly 6% Following Barclays' Significant Price Target Hike to $2,300
Stock News
May 28
On Thursday, SanDisk Corp. (SNDK.US) rose nearly 6%, trading at $1,681.75. Barclays analyst Tom O'Malley significantly raised the price target for SanDisk from $1,200 to $2,300 and upgraded the rating from "Neutral" to "Overweight." The memory and storage sector is entering a new development phase driven by long-term contracts, tightening supply, and unprecedented pricing visibility. Barclays identifies the memory and storage sector as one of the most attractive verticals outside of accelerators, noting that the current supply-demand imbalance may persist until 2027. The firm views SanDisk as one of the primary beneficiaries of this industry transformation.
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