Two Wall Street Analysts Just Set Price Targets on Sandisk $1,430 Apart. One of Them Is Going to Be Very Wrong.

Two Wall Street Analysts Just Set Price Targets on Sandisk $1,430 Apart. One of Them Is Going to Be Very Wrong. The gap underscores a deep split over whether SanDisk’s NAND flash pricing cycle will keep supporting earnings gains. Susquehanna trimmed its target to $3,050 from $3,250 while maintaining a positive rating, while Wells Fargo raised its target to $1,620 from $1,250 but still did not recommend buying. With shares around $1,600, the analysts effectively disagree on whether the stock could nearly double within a year or already reflects the outlook. SanDisk’s 52-week range runs from $40.10 to $2,354.39. The bull case cites fiscal third-quarter revenue up 251% to $5.95 billion, non-GAAP gross margin of 78.4%, and five multi-year supply agreements with about $42 billion in minimum contractual revenue. Management guided fiscal Q4 adjusted EPS of $30 to $33 on revenue of $7.75 billion to $8.25 billion.