Shares of SanDisk Corp. (SNDK) surged 5.11% during intraday trading on Monday, recovering from a sharp sell-off last week. The memory maker's stock had previously dropped 6.8% on Thursday following disappointing forward guidance, despite strong quarterly results.

The rally was fueled by a bullish upgrade from Argus Research, which raised its rating on SanDisk to Buy from Hold with a 12-month price target of $1,600. The firm's analyst, Jim Kelleher, noted that the recent price decline offered a compelling entry point, calling the shares "close to half of their peak level." He also highlighted the company's early stages of a multiyear period of revenue acceleration and margin expansion, driven by surging demand for memory components in artificial intelligence infrastructure.

Additional support came from other institutions, including China Renaissance, which maintained its Buy rating while adjusting its price target to $2,000 from $3,169, and Bank of America, which reiterated a $2,500 target. The concentrated positive analyst sentiment provided a catalyst for the stock to rebound after the prior week's sell-off.