SanDisk shares staged an impressive recovery Monday following upgraded price targets from two prominent Wall Street firms, providing investors with renewed confidence to purchase shares after Friday’s significant selloff.
Mizuho Securities maintained its Outperform rating while increasing its price target to $2,200 from the previous $1,825. BofA Securities also reaffirmed its Buy rating and elevated its target to $2,100 from $1,550. SNDK shares responded by climbing approximately 5% to close at $1,638 for the session.
This rebound follows Friday’s 11% decline. Despite the recent volatility, the stock has skyrocketed more than 3,600% over the trailing twelve months, a remarkable journey from its 52-week low of merely $39.44.
BofA’s price target revision came on the heels of SanDisk’s participation in the firm’s 2026 Global Technology Conference held in San Francisco. Notably, company management provided no adverse guidance revisions, which investors interpreted positively.
Artificial intelligence demand forms the foundation of this investment thesis. Data center facilities are depleting memory inventory at a rate that current supply chains cannot sustain.
Mizuho analyst Vijay Rakesh highlighted that NAND flash wafer production starts are projected to contract in 2026 and experience only marginal growth in 2027, with substantial new manufacturing capacity not expected until 2028. Simultaneously, demand is accelerating at an 18% compound annual growth rate through this year and next.
SanDisk has been strategically establishing an earnings foundation through what the company refers to as new business model (NBM) agreements. These arrangements begin with fixed pricing structures that gradually transition to variable pricing mechanisms.
Over one-third of SanDisk’s forecasted fiscal 2027 revenue has already been secured via these long-term commitments. BofA analyst Wamsi Mohan highlighted that the contract structures are designed to preserve margins within company guidance parameters even if pricing reaches its lowest threshold.
“Over time we see a path to a higher proportion of supply under these NBMs thereby driving more stability in earnings,” Mohan wrote.
SanDisk wasn’t alone in Monday’s memory sector rally. Micron Technology advanced approximately 8%, while Western Digital increased roughly 4% and Seagate Technology climbed about 3.3%.
The broader market painted a contrasting picture. The S&P 500 declined 2.6%, the Dow Jones Industrial Average fell 1.4%, and the Nasdaq Composite tumbled 4.2%, highlighting the memory sector’s exceptional performance.
SanDisk outperformed even its direct competitors throughout the session, bolstered by the twin analyst upgrades and positive takeaways from the technology conference.
The stock has now appreciated more than 557% in 2026 year-to-date.
At the time analysts published their reports, SNDK was trading at $1,638, representing an approximate 5% gain for the session.
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