Sandisk Stock Gets More Than $2,000 Price Target Boost From Citi

Sandisk SNDK received a higher price target from Citi, which lifted its outlook by more than 50% on stronger storage demand, tighter supply conditions, and artificial intelligence-driven pricing trends.

Analyst Asiya Merchant raised the target to $2,025 from $1,300 and reiterated a Buy rating on Sandisk. She said recent earnings from Kioxia support the view that storage demand remains solid and pricing conditions continue to strengthen.

Merchant also pointed to Sandisk's long-term agreements, saying they support gross margins above 80% and include predetermined volumes that are expected to increase over time.

Citi now expects NAND average selling prices to rise 186% in 2026, while eSSD prices may climb about 265%. Merchant added that Sandisk's $6 billion share buyback authorization could provide additional support to earnings per share.