SanDisk (NASDAQ:SNDK) shares gained 3.8% in pre-market trading, extending the rally triggered by the company’s 2026 Investor Day on Thursday after JPMorgan upgraded the stock to Overweight from rating suspended.

JPMorgan set a new price target of $2,250, implying approximately 47% upside from the previous closing price. The upgrade followed a presentation in which management outlined ambitious long-term financial targets and positioned SanDisk to benefit more directly from growing investment in artificial intelligence infrastructure.

SanDisk targets strong revenue and margin growth

At its Investor Day, management presented a multi-year framework calling for annual revenue growth in the…