Bernstein: Raises SanDisk's target price from $1700 to $3000
Bernstein analyst Mark Newman significantly raised the target price for SanDisk (SNDK.O) from $1700 to $3000, maintaining an "Outperform" rating.The firm pointed out in its research report that the new Long-Term Agreement (LTA) for storage has undergone a structural change, shifting from being customer-favorable to more advantageous for suppliers. The new agreements typically include fixed or range-constrained pricing, commitments of prepaid funds that lock in customers and provide downside protection, and longer contract durations. Based on data provided by the company, Bernstein estimates that the floor price for SanDisk in the recently signed LTAs is approximately $0.29 per GB.
