Bernstein sharply raises SNDK's target price to $3,000.
2 hours ago
Bernstein analyst Mark Newman has raised SanDisk (SNDK)’s stock price target from $1,700 to $3,000, while retaining an “Outperform” rating on the stock. The firm explained that new Long-Term Agreements (LTAs) differ from their predecessors: older LTAs were customer-biased, while the new ones come with fixed or range-bound prices, include advance payment commitments to lock in clients and protect against downside risk, and feature longer terms. Per data from the company, SanDisk’s recently signed LTAs have a floor price of $0.29 per GB, which is significantly lower than Micron’s second-quarter floor price, the analyst noted in a research report for investors.
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