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SanDisk (SNDK) shares pushed higher on June 11 after Bank of America Securities reiterated its “Buy” rating on the memory chips specialist and raised its price target significantly.
The firm’s senior analyst Wamsi Mohan now sees SNDK hitting $2,100 over the next 12 months, signaling potential upside of another 28% from its previous close.
BofA’s bullish call is particularly significant given SanDisk stock is already trading up more than 600% versus the start of 2026.
Mohan Believes NBMs Will Push SanDisk Stock Higher
Mohan’s positive stance on SNDK shares is primarily anchored in the company’s innovative new business models (NBMs).
These multi-year supply agreements offer a structured approach to pricing — starting with a fixed-rate period before transitioning to a variable framework.
The analyst characterized these contracts as a "win-win” strategy for both SanDisk and its clientele; it enables customers to secure a dependable supply of advanced flash and memory technologies, and insulates SNDK against market volatility.
In short, NBMs effectively establish a pricing floor, ensuring that profit margins remain firmly within management’s guidance and providing Wall Street with highly coveted financial predictability.
SNDK Shares Remain Attractively Priced in 2026
BofA has upwardly revised its forecasts following SNDK’s presentation at the Global Technology Conference.
Citing strong pricing trends and unrelenting global demand for solid-state drives (SSDs) and flash solutions, the firm raised its 2027 profit and revenue estimates to $188 per share and $44 billion, respectively.
At 26x earnings, SanDisk shares remain rather attractive given the company’s beneficial joint-venture partnerships, accelerating market share gains, and the long-term potential for industry consolidation.
Note that Barchart currently holds a “100% BUY” opinion on the Nasdaq-listed firm, reinforcing that technical momentum favors continued upside through the remainder of 2026.
How Wall Street Recommends Playing SanDisk
Despite its cosmic run in recent months, Wall Street firms remain bullish as ever on SanDisk for the next 12 months.
According to Barchart, the consensus rating on SNDK stock sits at “Strong Buy” currently, with price targets as high as $3,250 indicating potential upside of 80% from here.
