JPMorgan Upgrades Sandisk to Overweight, Sees 47% Upside on AI Storage Boom
Summary
JPMorgan upgraded Sandisk to Overweight from Not Rated with a $2,250 December 2027 price target, implying 47% upside from the Aug. 13 close. The firm's thesis centers on AI-driven NAND demand, with the market expected to grow from $70B in 2025 to over $300B in 2026 and approach $500B in 2027. Sandisk's eight long-term agreements totaling $94B in contract value at floor pricing, with $16.5B in financial guarantees, are seen as breaking the memory boom-bust cycle. JPMorgan forecasts EPS CAGR above 25% and calendar 2027 EPS of $250. Shares rose 7.41% to $1,641.31 on the news, building on the 15% jump after the investor day.
At the time of this announcement, SNDK was trading at $1,623.87 on NASDAQ in the Technology sector, with a market capitalization of approximately $240.5B. The 52-week trading range was $42.82 to $2,354.39. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Benzinga.