SanDisk Corp. (SNDK) shares are surging 5.20% in pre-market trading on Monday, continuing the upward momentum from last week's impressive gains. The stock's latest jump comes as multiple analysts have significantly raised their target prices for the company, reflecting growing optimism in the storage market and SanDisk's strong performance.

Barclays has dramatically increased its target price for SanDisk from $39 to $220, while Bernstein has gone even further, raising its target from $120 to $300. These substantial upgrades follow SanDisk's better-than-expected Q3 earnings report, which Goldman Sachs highlighted as a catalyst for renewed market confidence. The investment bank noted that SanDisk's strong performance reflects a fundamental reversal in the NAND flash market, which is entering a prolonged and severe supply shortage phase expected to last through 2026.

The broader storage sector is also showing strength in pre-market trading, with peers like Micron and Seagate up over 4%, while Western Digital joins SanDisk with gains of over 3%. This sector-wide movement suggests investors are betting on a sustained uptrend in the storage market. Additionally, the semiconductor industry as a whole is seeing a rebound, with the leveraged ETF SOXL up nearly 8% in pre-market trading, indicating a positive sentiment across the tech hardware space.