Barclays analyst Tom O’Malley nearly doubled the price target for Sandisk (SNDK), raising it from $385 to a staggering $750 (while maintaining an Equal Weight rating), following the company's massive Q2 earnings beat and eye-popping Q3 revenue guidance.
- The dramatic revision is underpinned by Sandisk's Q3 revenue guidance of $4.4B–$4.8B, which significantly surpassed Wall Street consensus.
- The analyst's optimism is driven by unprecedented AI infrastructure demand and the company’s secured long-term supply through its extended manufacturing joint venture with Kioxia until 2034.