On July 14, Sandisk rose 3.35% in pre-market trading, trading at approximately $1,730 per share, with turnover of $57.52 million. The rebound follows a brutal 12.63% single-day decline in the prior session amid a broad semiconductor selloff.
On the news front, multiple Wall Street firms issued sharply higher target prices despite the selloff, providing repair momentum for the oversold stock. Evercore ISI raised its target price from $1,400 to $3,100, maintaining an Outperform rating, implying approximately 85% upside from the prior close. Goldman Sachs lifted its target from $1,200 to $2,200, reiterating a Buy rating, citing expectations that the upcoming August earnings report will benefit from tight NAND supply-demand dynamics and an improving enterprise SSD product mix. The analyst consensus mean target now stands at $2,325.83.
The prior session's decline was driven by concerns over a potential storage super-cycle peak, a 10%+ drop in SK Hynix on weaker-than-expected Q2 profit forecasts, and elevated geopolitical risks from U.S.-Iran tensions in the Gulf region. The Philadelphia Semiconductor Index fell 4.78% on the same day.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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