Citi analyst Asiya Merchant reiterated a Buy rating on SanDisk Corp today and set a price target of $280.00.
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Asiya Merchant has given her Buy rating due to a combination of factors that highlight SanDisk Corp’s strong financial performance and favorable market conditions. The company reported impressive quarterly results, with revenue and earnings per share significantly exceeding both guidance and market expectations. This outperformance was driven by robust gross margins, which benefited from favorable pricing in a tight supply environment.
Looking ahead, SanDisk’s guidance for the upcoming quarter also surpassed market expectations, supported by strong demand from the proliferation of AI and solid customer visibility. The company’s competitive positioning is further strengthened by its progress in Bics8 qualifications and its strategic focus on data centers, which are expected to enhance margins over the long term. These factors, combined with a favorable supply-demand environment projected to persist through 2026, underpin the Buy rating and the increased target price of $280.
Merchant covers the Technology sector, focusing on stocks such as Dell Technologies, NetApp, and Pure Storage. According to TipRanks, Merchant has an average return of 53.6% and an 81.46% success rate on recommended stocks.
In another report released yesterday, Mizuho Securities also reiterated a Buy rating on the stock with a $250.00 price target.