Key facts
- SanDisk stock reached a new all-time high of $1,861 on Wednesday.
- The stock rose over 6.7% during the trading session.
- Morgan Stanley reaffirmed its Overweight rating and raised its price target to $1,750.
- Barclays upgraded SanDisk stock to Overweight.
- CounterPoint Research published a bullish report on the NAND memory market for AI applications.
SanDisk (SNDK) stock surged over 6.7% on Wednesday, reaching a new all-time high of $1,861. This significant price movement was driven by positive analyst sentiment and favorable market research. Morgan Stanley reaffirmed its Overweight rating on the stock and sharply increased its price target from $1,100 to $1,750, citing strong demand in the memory market. Barclays also contributed to the bullish outlook by upgrading SanDisk to Overweight. Additionally, a recent report from CounterPoint Research highlighted the growing NAND memory market, particularly for AI applications, positioning SanDisk as a competitive player. The company's year-to-date performance now stands at 623%, with its market capitalization reaching approximately $271 billion.