SanDisk Corp. (NASDAQ:SNDK) shares climbed Monday after Bank of America dramatically raised its price objective on the NAND flash giant to $2,100 from $1,550, a 35% jump from Friday's close. 

SNDK stock is up. See the chart and price action here. 

Analysts cited an increasingly iron-clad supply/demand imbalance and a new contract structure that analysts say reshapes the economics of the memory industry.

$2,100 Price Target

BofA reiterated its Buy rating on SNDK while lifting fiscal 2027 revenue and EPS estimates to $44 billion and $187.65, respectively, up sharply from prior forecasts of $37.7 billion and $153.59. 

The revised price target is based on an unchanged ~10x multiple on C27E EPS of $199. At Friday’s close of $1,559.32, the new target implies roughly 34.7% upside, per Benzinga Pro.

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The catalyst is what BofA calls SanDisk’s “new business models,” or NBMs, multi-year supply partnerships with customers that lock in fixed pricing upfront before converting to variable pricing over the remainder of the contract. The firm views these deals as structurally transformative. 

“We see ...