Bernstein Raises SanDisk Target Price to $3000 from $1700 on June 30

According to Bernstein analyst Mark Newman, SanDisk (SNDK) target price was raised to $3000 from $1700 on June 30, with an outperform rating maintained. The analyst highlighted that new long-term memory agreements (LTAs) differ from previous contracts by featuring fixed or band-constrained pricing with upfront commitments to lock in customers and protect against downside risk, with longer contract terms. SanDisk's recent LTAs carry a floor price of $0.29 per GB, notably lower than Micron's comparable second-quarter level.
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