SanDisk Stock Has 35% More To Run, Analyst Says

Bank of America raised its price target on SanDisk (SNDK) to $2,100, implying 35% upside from Friday's close. The upgrade is driven by the company's new business model (NBM) of multi-year supply partnerships with locked-in pricing, supply constraints expected to persist until 2028-2029, and strong free cash flow projections of $27.5B in F27 and $34.3B in F28. SanDisk has already secured over a third of F27 revenue through NBMs worth $11B+ in financial guarantees.