Key TakeawaysSNDK shares dropped approximately 5% during Monday’s pre-market session, part of a wider memory industry decline sparked by SK Hynix’s dramatic fall in Seoul tradingGoldman Sachs elevated its SNDK price objective from $1,200 to $2,200 while maintaining a Buy recommendationEvercore ISI increased its price target to $3,100 from $1,400, highlighting $62 billion in guaranteed revenue from fresh supply contractsCiti maintained its $2,500 price objective, emphasizing robust supply-demand dynamics fueled by artificial intelligence data center requirementsEven after a 16% July decline, SNDK remains up over 700% year-to-date in 2026SanDisk shares experienced another downturn Monday morning, declining roughly 5% before the opening bell. The weakness emerged as part of a widespread memory industry retreat, sparked by SK Hynix’s steepest one-day plunge in almost 20 years on South Korea’s exchange.Sandisk Corporation, SNDKSK Hynix faced a double blow. After its prominent Nasdaq listing Friday, investors locked in gains, while a Korean brokerage analysis suggested the company’s second-quarter operating earnings would fall approximately 8% below market expectations. This combination dragged memory stocks downward collectively, with both Micron and Western Digital registering significant pre-market losses.Geopolitical tensions compounded the selloff. Fresh US-Iran military confrontations near the Strait of Hormuz unsettled global markets overnight, with Tehran asserting the strategic waterway had been shut down. Oil prices surged and Nasdaq futures retreated, intensifying pressure on high-volatility growth equities including SNDK.The shares hit an intraday bottom at $1,773 before finding support. SNDK had previously retreated 16% throughout July to approximately $1,915, following a sharp 29% plunge during just the month’s first four sessions.Wall Street Remains Confident Through the VolatilityAnalyst sentiment remains remarkably optimistic. Goldman Sachs boosted its price objective to $2,200 from $1,200 Monday while preserving its Buy stance. Analyst James Schneider’s 2026 adjusted earnings per share projection sits roughly 30% above the Street consensus, with the firm anticipating a “very strong” fiscal fourth quarter 2026 earnings announcement scheduled for August.Evercore ISI pushed even higher. Analyst Amit Daryanani elevated his target to $3,100 from $1,400, arguing the market is “underappreciating the durability” of SanDisk’s profitability and cash generation capabilities. He highlighted approximately $62 billion in guaranteed minimum revenue stemming from newly established long-term supply partnerships, characterizing it as a “structural shift” in earnings predictability. Daryanani suggests potential upside could reach $4,000.Citi stood pat at its $2,500 target, maintaining a 90-day positive outlook on SNDK alongside Seagate and Western Digital. The firm stated it maintains “the most conviction on storage names” given advantageous supply-demand conditions supported by AI-driven data center appetite for both NAND flash and HDD storage solutions.The Foundation of the Optimistic OutlookThe supply-demand mismatch in NAND memory forms the foundation of the bullish thesis, and analysts believe this dynamic will persist. Evercore’s Daryanani anticipates pricing strength continuing through 2027.Despite market anxiety, 79% of analysts tracking SNDK assign it a Buy rating — representing the highest concentration since the company separated from Western Digital in February 2025.Prior to Monday’s decline, SNDK had recorded a three-session rally of 18%, indicating bargain hunters have been accumulating shares during pullbacks.The next significant milestone arrives with August earnings, immediately followed by an investor presentation where SanDisk management will have an opportunity to directly address market concerns.The post SanDisk (SNDK) Stock Drops 5% as Analysts Elevate Price Targets Amid Sector Turbulence appeared first on Blockonomi.