TipRanks(@TipRanks):Bernstein analyst Mark Newman raised the firm's price target on SanDisk $SNDK to $3,000 from $1,700 and keeps an Outperform rating on the shares. The firm noted that new memory long-term agreements, or LTAs, are different from older ones, as old LTAs were written in favor of the customer, while newer LTAs have fixed or range bound prices, include upfront financial commitments to lock-in customers and protect downside, and have longer terms. Based on the data provided by companies, the firm estimates SanDisk's floor price in recently signed LAs is 29c per GB, which compares to a floor price for Micron meaningfully below Q2 levels, the analyst tells investors in a research note.

2026.06.29 21:21

Bernstein analyst Mark Newman raised the firm's price target on SanDisk $SNDK to $3,000 from $1,700 and keeps an Outperform rating on the shares. The firm noted that new memory long-term agreements, or LTAs, are different from older ones, as old LTAs were written in favor of the customer, while newer LTAs have fixed or range bound prices, include upfront financial commitments to lock-in customers and protect downside, and have longer terms. Based on the data provided by companies, the firm estimates SanDisk's floor price in recently signed LAs is 29c per GB, which compares to a floor price for Micron meaningfully below Q2 levels, the analyst tells investors in a research note.