BofA analyst Wamsi Mohan raised the firm’s price target on SanDisk (SNDK) to $125 from $59 and keeps a Buy rating on the shares. Higher than expected demand from data centers starting to meaningfully impact pricing, increasing content in consumer devices, restrictions on Chinese NAND production, and lower appetite from NAND suppliers to increase capacity in the near-term are all factors driving the current undersupply state of the NAND market and a tailwind for NAND prices, the analyst tells investors.
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