SanDisk Stock (SNDK) Making New Highs: Citi Lifts Price Target to $750

SanDisk's stock price (NASDAQ:SNDK) is experiencing another explosive rally in pre-market trading, with shares jumping 22.57% to $661 ahead of the opening bell. The surge follows earnings, and Citi's decision to raise its price target to $750 from $490, maintaining a Buy rating on the stock.

This latest catalyst comes on the heels of a remarkable 140% gain through the first month of 2026, extending what has already been an extraordinary run for the NAND memory manufacturer.

The rally builds on SanDisk's December quarter results, which significantly exceeded analyst estimates. Citi analysts pointed to an improved product mix and strengthening demand as key drivers behind the better-than-expected performance. The firm specifically highlighted the acceleration of SanDisk's data center momentum as a critical factor underpinning their bullish outlook and revised valuation.

The stock closed the previous session at $539.30, up 2.21% from the prior close, before surging in pre-market activity. Over the past year, SanDisk shares have delivered a staggering 1,398% return, making it one of the standout performers in any sector. The company has benefited from what multiple analysts describe as extreme supply tightness in the NAND memory market, creating favorable pricing dynamics that have driven unprecedented margin expansion.

Wall Street's enthusiasm for SanDisk extends beyond Citi's latest upgrade. Goldman Sachs recently raised its price target to $700 from $320, maintaining a Buy rating and citing tight industry supply conditions alongside accelerating demand. The firm noted that the NAND market is experiencing very limited supply additions, creating a structurally advantageous environment for existing producers.

RBC Capital has also increased its target to $650 from $400, though maintaining a more cautious Sector Perform rating, emphasizing the extreme supply tightness driving average selling price growth to unprecedented levels.

SanDisk's management has capitalized on tight supply conditions by maximizing value through strategic allocations and developing longer-term customer agreements. This approach has allowed the company to capture premium pricing while securing revenue visibility in a market characterized by constrained capacity additions. The data center segment, in particular, appears to be driving accelerating momentum, reflecting the ongoing build-out of artificial intelligence infrastructure and cloud computing capacity.

The current rally positions SanDisk well above recent trading levels, with a new all time high in sight at the opening bell. Markets are clearly responding to the combination of exceptional operational execution, and industry tailwinds. One of the more remarkable stories of recent years, the SanDisk bulls have plenty to cheer.