<div id="readability-page-1"><div>Evercore ISI analysts see further upside for Sandisk shares, even after their nearly 2,900% gain over the past 12 months.In a note initiating coverage on the top-performing S&amp;P 500 constituent — giving it an “outperform” rating and an above consensus price target of $1,200 — Evercore analysts wrote: <blockquote>“We believe SNDK is levered to one of the most attractive areas of the AI infrastructure stack — data storage, where demand is accelerating and supply remains constrained at minimum through CY28 if not beyond. While concerns around peak NAND pricing and cyclicality persist, we think the current cycle is structurally tighter and more durable, underpinned by AI-driven demand and sustained supply discipline that is creating ‘SCA’s’, providing memory providers with pricing floors and upfront cash payments (Strategic Contractual Agreements between cloud companies and NAND/DRAM providers).”</blockquote>Even with the positive news, Sandisk shares sold off 4% in recent trading, taking a little wind out of an epic run-up that still stands at 16% over the past five days and 30% over the past month. Sandisk has been the subject of a fair bit of positive commentary in recent days, with both Citi and Bernstein analysts boosting their price targets for the shares ahead of its earnings report due on April 30. The broader memory/data storage trade has recovered from its recent big wobble following Google’s release of details about a new, potentially less memory-heavy AI algorithm technology called TurboQuant. Hard disk drive maker Western Digital has more than doubled since the start of the year, Seagate Technology Holdings is up about 90%, and DRAM maker Micron — DRAM is the basis for the AI-focused memory product called high-bandwidth memory, or HBM — is up more than 50% in the first 3.5 months of 2026.</div></div>

SNDK

Evercore ISI has initiated coverage on Sandisk with an "outperform" rating and a target price of $1,200, citing strong demand in AI-driven data storage. Despite a 2,900% gain over the past year, Sandisk shares fell 4% recently, though they remain up 16% over the past five days. Analysts from Citi and Bernstein have also raised their price targets ahead of the earnings report on April 30. The broader memory/data storage sector has seen significant recovery, with major players like Western Digital and Seagate experiencing substantial gains this year.

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Sandisk initiated at “outperform” by Evercore ISI, with target of $1,200