Argus Upgrades SanDisk (SNDK) to Buy, 'strong fundamentals'
Argus analyst Jim Kelleher upgraded SanDisk (NASDAQ: SNDK) from Hold to Buy with a price target of $1,600.00.
The analyst comments "Raising rating to BUY on strong fundamentals, recent profit taking • BUY-rated Sandisk Corp. (NSM: SNDK) reported sharply above-consensus results for fiscal 4 Q26 and guided for continued exceptional growth for fiscal 1Q27. • Sandisk is seeing accelerating momentum in data center, driven by artificial intelligence (AI) infrastructure investments, as well as in client solid-state drives (SSDs) and enterprise solutions. • The shares rallied sharply with data storage peers through June 2026 but extended recent profit taking after reporting 4Q26 results. • In our view, the $500 pullback from our coverage launch price, coupled with accelerating financial momentum that is keeping valuations reasonable, creates a compelling price point for an upgrade to BUY. Our 12-month target price is $1,600."
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Shares of SanDisk closed at $1212.21 yesterday.