Citi Boosts SanDisk Price Target to $2,500 on 80% NAND ASP Gain
SNDK•SanDisk's price target was raised by Citi to $2,500 from $2,025, noting Micron's mid-single-digit NAND shipment growth and 80% average selling price surge. The analyst forecasts NAND demand to exceed supply through 2027 due to AI datacenter needs and projects 20% industry bit supply growth in 2026.
1. Price Target Increase by Citi
Citi lifted its SanDisk price target to $2,500 from $2,025, reflecting a stronger NAND pricing environment. Analyst Atif Malik cited Micron's better-than-expected quarterly results, including mid-single-digit NAND bit shipment growth and an 80% rise in average selling prices.
2. Positive NAND Market Outlook
The analyst expects NAND industry demand to outpace supply through 2027, driven by AI-related datacenter workloads and structural supply constraints. Citi maintained a 20% industry NAND bit supply growth forecast for 2026, below anticipated demand levels.
3. Upcoming SanDisk Catalysts
Citi flagged near-term catalysts such as industry earnings reports, the August Flash Memory Summit, and SanDisk's investor day for updated demand commentary, technology roadmaps, and capital return plans. These events could provide fresh insights into SanDisk’s growth trajectory.
