Mizuho Raises SanDisk (SNDK) PT, Cites Massive NAND Pricing Tailwinds, AI Demand

Sandisk Corporation (NASDAQ:SNDK) is one of the best performing new tech stocks to buy now. On January 26, Mizuho raised its price target on SanDisk to $600 from $410 with an Outperform rating, citing a belief that pricing tailwinds in legacy DRAM and NAND markets will improve 2026 sales and margins for the memory group. The firm expects no new NAND wafer capacity in 2026 or 2027 while demand expands over 20% in 2026, leading to estimated annualized NAND pricing increases of 330% year-over-year in 2026 and 50% in 2027 as AI server demand accelerates. Consequently, the firm increased price targets across the memory sector to reflect this anticipated tight supply environment.

On the same day, Morgan Stanley raised its price target on Sandisk Corporation (NASDAQ:SNDK) to $483 from $273 with an Overweight rating and noted that NAND fundamentals remain exceptional due to a surge in enterprise solid state drives, tightening consumer markets.

The firm is raising its numbers on NAND pricing strength while keeping estimates in-line with management guidance for the December quarter; for March, the firm now models revenue of $2.94 billion and non-GAAP EPS of $5.71 based on NAND average selling prices increasing 20% sequential and bits decreasing 6%. The firm added that its through-cycle estimate of $13 in earnings power is likely too low as financial figures continue to rise.

Sandisk Corporation (NASDAQ:SNDK) develops, manufactures, and sells data storage devices and solutions using NAND flash tech in the US, Europe, the Middle East, Africa, Asia, and internationally.

While we acknowledge the potential of SNDK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.