Bernstein Lifts SanDisk Price Target to $3,000 From $1,700
Summary
- Bernstein said it maintained an outperform rating on SanDisk and raised its price target to $3,000 from $1,700.
- SanDisk shares have surged about 860% over the past six months, and Bernstein said the stock has room to gain about 46% more from its current price of $2,273.
- Bernstein estimated SanDisk's fiscal 2030 EPS at $214 and said a new structure for long-term semiconductor supply contracts would sharply reduce the risk of losses.
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Bernstein has sharply raised its price target on NAND flash maker SanDisk.
CNBC reported on July 30 that Bernstein maintained its outperform rating on SanDisk and lifted its price target to $3,000 from $1,700, an increase of nearly 76%.
SanDisk shares have surged about 860% over the past six months. Bernstein said the stock could climb nearly 46% from its July 30 close of $2,273. The firm estimated SanDisk's earnings per share for fiscal 2030, which runs from June 2029 to May 2030, at $214.
Bernstein analyst Mark Newman wrote on July 30 that the structure of long-term supply contracts in the memory-chip market has recently changed after historically favoring large customers. He added that while the new contract structure would not eliminate concerns about a future semiconductor downturn, it would dramatically reduce the chances of SanDisk suddenly falling into the red.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul