Bank of America reiterated its Buy rating on SanDisk after the company’s latest earnings report and kept its $2,500 price target unchanged. Based on the cited reference price, that target implies roughly 85% upside. The bank said the market still underestimates the durability of SanDisk’s earnings power, even though memory chips have long been treated as a cyclical business. In BofA’s view, several forces are reshaping the NAND market: demand from AI data centers, growth in enterprise SSDs, and long-term supply agreements. The bank also said it expects SanDisk’s fiscal 2027 earnings per share to reach about $233.85. On valuation, BofA argued SanDisk looks more attractive at roughly 6x forward earnings, compared with Micron at about 12x. The report was cited by The Street.
Bank of America reiterated its Buy rating on SanDisk following the company’s latest earnings report and maintained its $2,500 price target, according to The Street. Based on the cited reference price, the target suggests about 85% upside.
The bank said the market still underestimates the durability of SanDisk’s earnings power. While memory chips have historically been a cyclical business, Bank of America said demand from AI data centers, growth in enterprise SSDs, and long-term supply agreements are changing the structure of the NAND industry.
Bank of America also said SanDisk’s fiscal 2027 EPS is expected to rise to about $233.85. On valuation, the bank said SanDisk’s roughly 6x forward price-to-earnings multiple looks more attractive than Micron’s valuation of about 12x.
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