Sandisk (NASDAQ:SNDK) stock continued its rally this month and reached a new all-time high. It has jumped by 710% this year and 4,890% in the last 12 months, making it the best-performing company in the Nasdaq 100 and S&P 500.
Analysts are Bullish on the Sandisk Stock
Despite the ongoing surge in SNDK stock, analysts remain broadly bullish and expect further upside. In a recent note, analysts at Cantor Fitzgerald boosted their target from $1,800 to $2,900.
Mizuho hiked its target from $1,825 to $2,200, while Bank of America (NYSE:BAC) increased to $2,100. The most optimistic analyst is Mehdi Hosseini of Susquehanna, who hiked his target from $2,000 to $3,250.
Such a move would bring its market capitalization to over $480 billion. It would be one of the best returns on Wall Street as the company was spun off from Western Digital (NASDAQ:WDC) in February last year at a $7 billion valuation.
