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SanDisk Corp (NASDAQ:SNDK) shares are trending higher Monday morning. The move follows a storm of stellar earnings and aggressive price forecast hikes.
Analysts Raise Price Targets
Wall Street is reacting to SanDisk’s massive third-quarter beat. Citigroup raised its price forecast to $1,300 on Friday. Barclays and Wedbush analysts both moved their targets to $1,200.
Massive Contractual Revenue Moat
Management revealed five long-term supply agreements during the earnings call. CFO Luis Felipe Visoso stated these deals imply “minimum contractual revenue of approximately $42 billion.” These new business models cover over one-third of the expected 2027 bit volume.
Pricing Power and Data Center Growth
Wedbush analyst Matt …
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