Bernstein Raises Sandisk Price Target Amid NAND Price Surge

Sandisk (NASDAQ: SNDK) shares climbed 6.3% on Thursday after Bernstein SocGen Group analyst Mark C. Newman raised his price target for the semiconductor firm by 25% to $1,250 per share. The upgrade is driven by a significant surge in NAND computer memory chip prices, which Newman suggests could rapidly shift the company toward profitability. The stock has already experienced a massive rally, gaining 2,040% over the last 52 weeks. In a bullish 'blue-sky' scenario, Newman posits that the stock could reach $3,000 if NAND prices continue their current trajectory. For fiscal 2027, the analyst projects earnings of $224 per share. The base case valuation of $1,250 is derived from an estimated average annual earning of $114 per share over a three-year period from 2026 to 2029, applying an 11-times multiple. This approach aims to smooth out the inherent volatility of semiconductor cycles. Despite the optimism, the analyst notes that Sandisk has been unprofitable for the past three years, suggesting a level of caution for investors. The company's fiscal Q3 2026 earnings report, scheduled for release on April 30, will be a critical catalyst for verifying these projections and the current state of the NAND market.