SNDK Stock Hits Record High: Morgan Stanley Raises PT By 59%, Sees Further Upside Ahead

• Maintained ‘Overweight’ rating on Sandisk stock. 
• Upgraded price target implies a 59% upside from the previous target of $1100. 
• Upgraded price target implies a 2% upside from SNDK’s Tuesday’s closing price.

SanDisk Corporation (SNDK) share price jumped nearly 7% on Wednesday and hit a record high after Morgan Stanley raised its price target on the stock, citing continued outpace of memory demand over supply as more companies look to spend more on building their AI infrastructure. 

SanDisk stock is not on-track to gain for the third consecutive week with 18 analysts having a ‘buy’ recommendation on the stock as per data from Koyfin. 

Morgan Stanley Raises Price Target On SanDisk

Morgan Stanley raised its price target on SanDisk to $1,750 from $1,100 and maintained an Overweight rating on the shares. 

There's "no quick fix to the memory shortage," which is going to drive what could be two to three more years, or longer, of tight supply conditions in memory, Morgan Stanley told investors in a note. “Memory stocks were strong in 2025 and have continued to pace the market again in 2026, but the firm doesn't think "the run of strong performance is over," the analyst added. 

Furthermore, a CounterPoint Research analysis, published on Tuesday also placed SNDK as among the top beneficiaries of the surging demand for memory. “While Samsung remains the industry leader and SK Hynix maintains its second-place ranking, SanDisk has emerged as a primary competitor for the third position,” the research note read. 

“Although currently ranked third, the significant growth anticipated for the AI industry suggests SanDisk is strongly positioned for future advancement.”

Susquehanna Bullish On SNDK?

According to TheFly, Susquehanna raised its SNDK price target to $3,250 from $2,000 last week. The firm maintained its ‘Positive’ rating on the stock. 

Susquehanna stated that its channel checks indicate second-quarter DRAM average selling prices (ASPs) are on track to rise 50% to 60% sequentially, topping expectations for a 50% increase.

The firm stated that NAND ASPs remain on track to climb 75% to 100% quarter over quarter. The analyst raised the firm’s estimates for the memory chipmakers under coverage, reflecting stronger pricing trends and growing confidence in the durability of margins.

SNDK Retail View 

Retail sentiment on Stocktwits was “bearish” with “low” message volumes. 

SNDK Stock has surged 658% year-to-date. 

Read More: Fed Beige Book: US-Iran Conflict Leading To Higher Inflation, Squeezing Consumer Spending

For updates and corrections, email newsroom[at]stocktwits[dot]com.