Evercore Raises Sandisk Target Price to $3,100 From $1,400 as Stock Falls 12.6%

According to Barron's, Evercore ISI analyst Amit Daryanani raised Sandisk's (SNDK) target price on Sunday to $3,100 from $1,400, more than doubling his prior estimate. The stock fell 12.6% on Monday to $1,673.97, though analysts remain bullish; 79% of those tracking the memory chipmaker rate it a buy, the highest proportion since its February 2025 spinoff from Western Digital.

Daryanani cited structural benefits from new long-term supply agreements and projected that Sandisk could reach $4,000 under favorable conditions. Citigroup also reiterated a bullish view with a $2,500 target, citing favorable supply-demand dynamics in memory storage driven by persistent AI data center demand.