JPMorgan Chase Upgrades Visa to "Overweight," Target Price $2250

August 14th, according to CNBC report, JPMorgan Chase upgraded SanDisk (SNDK) from "Neutral" to "Overweight" and set a target price of $2250, implying about 47% upside from Thursday's closing price. SanDisk's stock price has risen 544% year-to-date.

JPMorgan Chase analyst Harlan Sur stated that as AI inference drives rapid NAND demand inflection, SanDisk is uniquely positioned to benefit. The acceleration of AI applications has surged storage demand, leading to supply constraints.

SanDisk disclosed during its New York Investor Day that the company will adopt a new business model including structured pricing mechanisms and large customer prepayment agreements. JPMorgan Chase noted that this framework is expected to improve the company's profit margin and reduce business cyclicality. Currently, SanDisk has signed 8 related long-term agreements with an aggregate contract value of approximately $94 billion at the lower end of pricing, with a weighted average contract term exceeding 4 years.

LSEG data shows that out of 25 analysts covering SanDisk, 22 have issued "Buy" or "Strong Buy" ratings, while the other 3 have issued "Hold" ratings.