Bank of America lifts Sandisk price target to $2,100 as memory stocks resume extreme swings

Bank of America has raised its stock price target for Sandisk, the data-storage company trading under the SNDK ticker, according to a report published by TheStreet on June 8. The update comes as Sandisk shares remain volatile after a spectacular run in 2026, when the stock had climbed more than 550% year-to-date before slipping more than 15% over the prior two sessions, the report said.

TheStreet said Bank of America increased its Sandisk target to $2,100, and framed the move as a partial reset to reflect where the bank thinks the company’s shares could trade through the rest of 2026. The article attributed the change to a revised view of the underlying memory market, but did not provide granular figures in the excerpt available to this desk beyond the headline target change.

The magnitude of the rally and the abrupt pullback underline a key feature of the semiconductor complex this year: memory stocks can reprice quickly as investors chase supply-demand indicates, pricing expectations, and any indication that shortages or demand strength will persist. In that environment, even one broker’s target adjustment can have an outsized impact on near-term sentiment.

Bank of America’s action also arrives alongside a broader pattern in semiconductors where major sell-side firms have been updating price targets frequently as the market tries to separate cyclical memory demand from longer-term artificial-intelligence-driven server upgrades. While this specific Sandisk note is focused on the company’s valuation path, the market context for memory remains tied closely to data-center spending expectations and the durability of pricing power.

Still, investors should treat the updated target as an analyst opinion rather than a new corporate forecast. In the information available here, Sandisk did not appear to issue a separate statement in connection with the target reset, and the report did not cite new company guidance or disclosed operational updates that would independently explain the change.

There is also uncertainty about which assumptions are embedded in the raised target. Analysts typically translate their views into implied revenue growth, gross margin, and inventory dynamics for memory products, but the details behind the $2,100 number were not included in the accessible report material. Without those assumptions, it is difficult to gauge how sensitive the target is to swings in spot pricing or to delays in recovery across end markets.

What to watch next is whether Sandisk can demonstrate that the supply-demand balance investors are banking on is holding up as the stock cools. Traders will likely focus on follow-through after the pullback, any indicates from the supply chain about tightening or loosening conditions, and whether additional analysts respond with similar valuation updates.

If further target increases come from other banks, that would suggest the market is converging on a new baseline for memory pricing and earnings. If, instead, targets are cut or investors start emphasizing downside risks, the recent run-up could prove fragile and the share volatility could widen further.