Sandisk (SNDK) shares are poised for significant upside after Rosenblatt initiated coverage with a 'Buy' rating and a $2,400 price target. Analyst Kevin Cassidy highlights AI's role in transforming NAND flash memory from a commodity to a critical AI infrastructure component.
Key points:
- AI compute platforms prioritize density, performance, and endurance, benefiting Sandisk's BiCS8 and BiCS10 platforms.
- New business model agreements with major NAND customers (65% of 2028 production) are expected to reduce sector volatility and improve demand visibility.
- Rosenblatt projects conservative fiscal 2030 non-GAAP EPS of ~$300, with the price target based on 10x fiscal 2028 earnings estimates. 🔗
’Not your father’s Sandisk’: Rosenblatt starts coverage at Buy
STREETINSIDER.COMSep 22, 1:47 PM UTC
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