SanDisk price target raised to $280 from $140 at Goldman Sachs

Goldman Sachs raised the firm’s price target on SanDisk (SNDK) to $280 from $140 and keeps a Buy rating on the shares. Sandisk shares rose 7% on strong margin performance and guidance well above expectations, and the gains appear sustainable given supportive industry dynamics, the analyst tells investors in a research note. Management’s comments on measured supply growth reinforce confidence in a continued NAND undersupply, while the company’s product mix adds upside leverage to earnings, the firm adds.