SanDisk Jumps 5.3% as BoA and Mizuho Lift Targets to $2,100/$2,200
SNDK•SanDisk stock climbed 5.3% to trade at $1,642.43 after Bank of America raised its 12-month target to $2,100 and Mizuho lifted its to $2,200, implying a 41% upside from last Friday’s close. The shares have surged 556% year-to-date and carry an average analyst target of $1,466.20, 10.3% below current levels.
1. Price Target Hikes and Upside Potential
Bank of America raised its 12-month target to $2,100 from $1,500, while Mizuho increased its to $2,200 from $1,825, implying a 41% upside to last Friday’s closing price.
2. Stock Rally and Technical Support
SanDisk shares jumped 5.3% to $1,642.43 at the open, rebounding from a pullback that respected the 20-day moving average support. The stock remains up 556% year-to-date and near its June 3 record high of $1,861.
3. Analyst Consensus and Options Activity
Nineteen of 22 analysts maintain buy ratings on the shares, with the average 12-month target at $1,466.20, a 10.3% discount to current levels. Options traders have shown elevated bearish bets, with a 10-day put/call volume ratio at the 92nd percentile and a volatility score of 88 out of 100.
