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cnbc.comJUN 84 min read$SNDKBullishLow

Bank of America hikes Sandisk price target to $2,100. Here's why

Bank of America reiterated its buy rating on SanDisk (SNDK) and raised its price target to $2,100, about 34% above Friday’s close. The bank cited continued pricing power supported by lingering NAND supply constraints tied to AI demand. It noted SanDisk has signed over a third of fiscal 2027 revenue via new business model contracts, leaving over 60% of NAND supply available.

AI DeskJune 8, 2026
Source · cnbc.com
AI analysis
Relevance
7/10
Novelty
4/10
Actionability
Low
Sentiment · $SNDK
Bullish
Timing
today (PT change reported in the morning)
Market alignment
aligns with risk-on AI/memory demand narrative despite recent sell-off
Why this matters for $SNDK

Street catalyst is a higher PT with a thesis that AI-driven memory shortages and new business model contracts support pricing power and margins.

Relevance context

Bank of America reiterated a buy on SanDisk and raised its price target to $2,100, citing sustained NAND pricing power tied to AI demand.

Price-impact prediction

Near-term bias to upside/hold support as traders react to the PT hike, but follow-through depends on whether NAND pricing power persists.

Background

SanDisk’s 2026 rally has been volatile, with a late-week pullback attributed to broader AI trade selling after Broadcom’s earnings and profit-taking.

Why it matters

The PT hike is framed as evidence that analysts see durable NAND pricing power supported by AI-driven shortages and new business model (NBM) contracts that lock in revenue and supply commitments.

Market relevance

Traders may use the PT change as a sentiment/positioning input for the memory complex, especially after the recent AI sell-off.

Market effects

Sector

Reinforces bullish read-through for NAND/memory pricing power and contract-structure stability during AI buildout.

Regional

No specific regional linkage beyond US-listed memory complex sentiment.

Global

Supports global memory supply/demand expectations tied to AI infrastructure spending.

Alternative perspectives

Contrarian view

If AI-related demand cools faster than expected, the pricing-power thesis could unwind and the PT may prove too optimistic.

Overlooked factors

The article emphasizes contract coverage and production flexibility, but does not quantify customer concentration, competitive supply additions, or how quickly pricing could reset if shortages ease.

Key entities

  • company
    SanDisk

    Memory/storage provider; subject of the Bank of America price-target increase and buy-rating reiteration.

  • analyst_firm
    Bank of America

    Issued the reiterated buy rating and raised the price target to $2,100.

  • analyst
    Wamsi Mohan

    Bank of America analyst cited for the NAND pricing power and NBM contract thesis.

Read at source← All news

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