SanDisk climbs 5% as RBC lifts target to $1,600

SanDisk shares rose more than 5 percent in US pre-market trading after RBC Capital Markets raised its price target to $1,600 from $1,300.

The roughly 23 percent increase in the target signals growing analyst conviction in the flash-memory maker's growth outlook, according to the brokerage. RBC did not disclose a rating change alongside the target hike, leaving its prior stance unchanged.

The new target values SanDisk well above its current trading level, implying substantial upside for shareholders. The upgrade comes as demand for NAND memory strengthens across the storage industry, with enterprise solid-state drives accounting for 48 percent of Micron's shipments in the latest quarter, up from 26 percent a year earlier, according to company data.

SanDisk's pre-market advance adds to a strong run for storage and semiconductor names, which have drawn investor attention as AI-driven demand outpaces supply. The sector has benefited from rising memory prices and data-center buildouts, with peers such as Micron and Intel posting double-digit revenue growth in recent quarters. Micron closed at $911.29 on Aug. 12, up 4.92 percent, as robust AI-related demand pushed up NAND sales, while Intel reported second-quarter revenue of $16.1 billion, a 25 percent year-over-year increase.

The RBC target hike gives SanDisk holders a clear directional signal and sets a fresh benchmark for the stock. Investors will watch for further analyst revisions and the company's next earnings report to gauge whether the momentum extends across the storage sector.

This article is for informational purposes only and does not constitute investment advice.