SanDisk Corp. (SNDK) shares surged 5.03% during the night session, extending a broader rebound in the storage sector.
The rally was fueled by a positive outlook from Wall Street analysts, particularly Morgan Stanley, which maintained its bullish stance on the storage sector. The firm highlighted that memory is increasingly becoming a primary bottleneck for AI infrastructure buildout—a structural constraint expected to persist for years. It also estimated that Q3 data center memory prices rose at least 25% quarter-over-quarter, exceeding forecasts.
Multiple Wall Street firms have recently raised their target prices on SanDisk, with Goldman Sachs lifting its target to $2,200 and Evercore ISI to $3,100. Institutions are broadly optimistic about the company's upcoming fiscal quarter results expected in early August.