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SanDisk Falls 12.6% on Monday, But Evercore ISI Raises Price Target to $3,100 on AI Demand, Supply Tightness

GateNews
StocksAI Industry News
SNDK-12.66%
SanDisk Corp. (SNDK) shares declined 12.63% on Monday amid a broader chip sector selloff, but Wall Street analysts remained bullish on the memory chipmaker. Evercore ISI analyst Amit Daryanani raised his price target to $3,100 from $1,400, implying roughly 62% upside, citing durable earnings power and sustained pricing strength as supply-demand imbalances are expected to persist through 2027. Citigroup reiterated its $2,500 target, and Bernstein lifted its target to $3,000 from $1,700. Analysts attributed the optimism to AI-driven memory demand and limited chip manufacturing capacity, which are expected to keep supplies tight and support pricing power across the memory sector.
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