On June 9, Tradr 2X Long SNDK Daily ETF rose 8.24% in pre-market trading, trading at $27.2/share, with trading volume of $23.33 million. As a 2x leveraged long ETF tracking SanDisk, the gain reflects broad institutional bullishness on the underlying stock.

The rally was driven by multiple major investment banks significantly raising their target prices for SanDisk. Bank of America raised its target from $1,550 to $2,100, maintaining a Buy rating, citing strong NAND demand, favorable pricing trends, and the company's New Business Model (NBM) agreements that have already locked in over one-third of fiscal 2027 revenue. Mizuho simultaneously raised its target from $1,825 to $2,200, maintaining an Outperform rating, projecting AI chip demand to surge eightfold by 2028. Cantor Fitzgerald went further, raising its target from $1,800 to $2,900.

Analysts highlighted that NAND average selling prices continue to rise through the year, with new supply capacity unlikely to materialize until 2028/2029 due to cleanroom construction timelines and EUV lithography equipment constraints. Bank of America raised SanDisk's fiscal 2027 revenue and EPS estimates to $44 billion and $188, respectively.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)