Overview
- SanDisk shares set an all‑time high of $807.99 on Wednesday after a jump of nearly 10% in the session.
- Bernstein’s Mark Newman lifted his price target to $1,250 from $1,000 and kept an Outperform rating while naming the stock a top near‑term pick.
- Newman forecasts Q4 adjusted earnings of $25.30 per share, well above the $18.78 Street view, based on a projected 40% quarter‑over‑quarter rise in average selling prices.
- He also outlined a blue‑sky case that values the stock at $3,000, which assumes steeper NAND price increases and applies a 13x peak‑cycle multiple.
- Management says enterprise SSD supply is fully allocated into 2026, reinforcing pricing power, and investors now look to April 30 for SanDisk’s fiscal Q3 results.