$SanDisk Corp.(SNDK)$ Melius has a $3,600 target on SNDK, built around three things: demand for High-Bandwidth Flash, tight NAND pricing, and free cash flow strong enough to support up to $100 billion in buybacks over three years. Other analysts are close behind, with Bernstein at $3,000 and Cantor Fitzgerald at $2,900. The board has already added $14 billion in buyback authorization. With a forward PE of 5, this one looks like a no-brainer to hold and buy for the long term.
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