Bank of America sees a bright future ahead for Sandisk . The bank maintained its buy rating on the flash memory products manufacturer and hiked its price target to $230 per share from $125. This updated forecast implies a roughly 18% upside from where shares of Sandisk closed on Tuesday. Sandisk was spun off from Western Digital on Feb. 24 and listed on the Nasdaq at $36 per share. The stock has popped 440% since then. SNDK YTD mountain SNDK YTD chart Despite this rally, Bank of America analyst Wamsi Mohan thinks that Sandisk's valuation still looks fair at its current levels. "We expect the price to BV multiple to rerate from 0.8x-2x to 3x-4x for the next few years on higher revenue growth with all-time high profitability levels," he wrote. "We believe SNDK shares will rerate to at least

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