Sandisk has shot up sixfold in 2026 and nonetheless has room to run as a consequence of sky-high reminiscence demand linked to the factitious intelligence growth, based on JPMorgan. The funding financial institution upgraded the flash reminiscence title to obese from impartial. It additionally has a $2,250 worth goal on shares, implying 47% upside from Thursday’s shut. “Following a interval of restriction on Sandisk (SNDK), we’re shifting to an OW Score,” analyst Harlan Sur mentioned Friday in a notice to shoppers. “SNDK is in lots of respects uniquely positioned to seize the continuing structural inflection in NAND demand pushed by speedy progress in AI inference.” Shares of Sandisk have surged 544% yr to this point as an acceleration in AI adoption boosted demand for reminiscence and storage — even creating provide constraints. SNDK YTD mountain SNDK yr to this point On Thursday, Sandisk held an Investor Day in New York, offering updates on how it could leverage the reminiscence frenzy. As a part of its progress technique, Sandisk will embrace a brand new enterprise mannequin that entails structured pricing mechanisms for its merchandise and pre-payment agreements with main shoppers. It is a framework that would cut back a few of the volatility in Sandisk’s enterprise, based on JPMorgan. “The New Enterprise Mannequin (NBM) framework (or LTAs – long-term agreements) has structurally reset SNDK’s margin profile larger and materially diminished cyclicality, with 8 signed NBMs representing ~$94B in whole contract worth at ground pricing [and] weighted-average contract length of 4+ years,” Sur wrote. JPMorgan’s score falls according to consensus on Wall Road. Of the 25 analysts overlaying SanDisk, 22 have purchase or sturdy purchase on the inventory, whereas three have a maintain score on it, LSEG knowledge reveals.
SNDK is up more than 500% this year. JPMorgan says there are more gains ahead
