SanDisk (SNDK) Gets New ‘Buy’ Reco, Surges 8.88%

SanDisk (SNDK) experienced an 8.88% surge in its share price, closing at $1,786.85 per share on Monday, following a buy recommendation from JPMorgan. The investment firm raised its price target to $2,250, highlighting the company's position as a leading global NAND flash memory supplier. JPMorgan also noted SanDisk's new business model framework, involving eight key customers with committed volumes and financial guarantees, covering around 50% of bits in fiscal 2027 and about two-thirds in fiscal 2028.

The company's technology roadmap includes the unveiling of BiCS9 and BiCS10 QLC nodes, with BiCS10 offering 60% higher bit density than BiCS9. SanDisk also projected mid-to-high teens revenue growth for fiscal years 2028 to 2030, with non-GAAP gross margins of approximately 80% and non-GAAP operating margins of 75%. CEO Luis Visoso expressed confidence in the company's growth, sustainability, and returns, as they optimize for these factors while capitalizing on favorable tailwinds in the rapidly expanding market.