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Evercore ISI Reaffirms "Outperform" Rating for SanDisk with a $2800 Price Target, Anticipating Strong Free Cash Flow and a 6.2% Stock Price Increase
Evercore ISI analyst Amit Daryanani reiterated an "outperform" rating on SanDisk (NASDAQ: SNDK) and set a price target of $2,800. Daryanani expects SanDisk to generate up to $35 billion in annual free cash flow, driven by a significant increase in NAND memory prices, which would be sufficient to repurchase 10% of its outstanding shares annually starting in 2027. Following this news, SanDisk's stock price rose by 6.2% during the day.
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