SanDisk initiated with an Overweight at Morgan Stanley

Morgan Stanley analyst Joseph Moore initiated coverage of SanDisk (SNDK) with an Overweight rating and $84 price target The firm sees a “tough” first half of 2025 in NAND, but 90% upside for the shares in twelve months as cyclical drivers reverse for an “underappreciated” NAND franchise. Despite uncertainty, SanDisk offers one of the best risk/rewards in the group, the analyst tells investors in a research note. The firm says the company has an “underrated franchise.”