BofA Lifts SanDisk Valuation to $900 on Strong NAND Pricing
Western Digital's SanDisk valuation target was raised to $900 from $850, citing a 63% quarter-over-quarter ASP increase for March and 20% growth in June on tight NAND supply. The firm warns that pull-forward buying tied to rising memory prices could weaken industry demand in the second half.
1. Price Target Increase
The firm raised SanDisk’s valuation target from $850 to $900, reflecting stronger-than-expected NAND pricing and tightening supply dynamics. It now models a 63% quarter-over-quarter ASP rise for March and forecasts 20% growth in the June quarter.
2. Supply and Demand Outlook
Persistent global NAND supply tightness is boosting pricing power, but pull-forward buying ahead of rising memory costs could lead to weaker industry demand in the second half of the year.
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