$SanDisk Corp.(SNDK)$ June 8th

$SanDisk Corp.(SNDK)$ June 8th: Mizuho raised SanDisk's price target to $2,200 from $1,825, maintaining an Outperform rating.

They continue to see AI as the driving force behind the supply-demand imbalance in the memory market, noting that increasing demand in 2027/28E could add further pressure. Within NAND, eSSD is noted as the key driver of demand. They estimate 2026/27E total NAND demand growing 18%/18% y/y, while wafer starts are estimated down 5%/up 3% y/y, with no significant supply expected online until 2028E.

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