Citi Nearly Doubles SanDisk Price Target to $490 Amid AI-Driven Memory Supercycle

Citi significantly boosted its price target for SanDisk (SNDK), nearly doubling it from $280 to $490, while maintaining a Buy rating, citing robust demand fueled by the AI buildout.

• The target hike was specifically driven by anticipated margin growth, robust demand for NAND flash memory, and limited supply.
• SNDK has been positioned as the top-performing S&P 500 stock year-to-date, benefiting from the ongoing memory chip supply shortage.
• The stock continued its steep ascent, closing at $501.29 on January 21.