Citi Keeps a $2,100 Target on SanDisk After Micron’s…
By Tobi Opeyemi Amure
AI summary of the source article
Citi analyst Atif Malik reiterated a Buy rating on SanDisk with a $2,100 price target following Micron's fiscal fourth-quarter earnings. Micron reported record NAND revenue of $14.1 billion, driven by a 30% price rise that beat Street consensus of 20% but trailed Citi's 34% model. Despite initial gains, SanDisk shares retreated to $1,737.50, sitting below Citi's target and the 25-analyst average of $2,136.54. Citi projects industry NAND bit shipments to grow in the mid-20% range through 2028 with tight supply, while SanDisk itself expects mid-teens growth. SanDisk is scheduled to report fiscal first-quarter results on October 29.
Why it matters
Because SanDisk exclusively sells NAND memory, pricing prints and supply data from Micron directly impact projections for SanDisk's upcoming quarterly margins.
Key facts
- Micron reported fiscal Q4 NAND prices rose about 30%, beating the 20% Street consensus but missing Citi's 34% forecast.
- Citi's reiterated $2,100 price target sits below the $2,136.54 average target across 25 analysts covering SanDisk.
- SanDisk is scheduled to report fiscal Q1 results on 29 October, with consensus expecting $46.11 in EPS on $10.63 billion of revenue.