Rosenblatt Begins Sandisk Coverage With Buy Rating
Rosenblatt Begins Sandisk Coverage With Buy Rating
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Key Points
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Sandisk shares had risen 644% since the start of 2026 before Rosenblatt’s call, highlighting the scale of the rally preceding the new price target.
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Sandisk’s latest quarterly results included earnings per share of $39.25, beating the $33.28 consensus estimate by $5.97; the company also reported an 87.84% return on equity and a 56.47% net margin.
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Analyst views cited in the coverage included a $2,200 target from Goldman Sachs, a reduced $2,100 target from Citigroup, a $1,600 target and sector-perform rating from RBC, and a $2,500 target from Bank of America.
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According to MarketBeat data, Sandisk had an average rating of “Moderate Buy” and a consensus price target of $2,015.61, based on two Strong Buy, 21 Buy and four Hold ratings.
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The broader analyst consensus cited by LSEG was that 24 of 28 analysts rated Sandisk shares either Buy or Strong Buy, indicating strong but not unanimous optimism.
Rosenblatt Securities launched coverage of Sandisk with a Buy rating and a $2,400 price target, suggesting 36% upside from recent trading levels TipRanks. Analyst Kevin Cassidy sees AI infrastructure demand lifting NAND flash from a commodity into a critical data-center component, positioning Sandisk's enterprise business for growth TipRanks.
The call comes as Sandisk shares have already jumped 644% since the start of 2026, and after the company beat earnings expectations with $39.25 per share versus a $33.28 consensus estimate GuruFocus. Rosenblatt highlighted Sandisk's BiCS8 and BiCS10 3D NAND technology and partnership with Kioxia as key advantages in storage density and cost TipRanks.
Massive Upside Forecast Bets on AI Storage Demand
The $2,400 target implies roughly 36% upside from Sandisk's previous close near $1,764 Yahoo Finance. That valuation assumes AI infrastructure buildout will make NAND flash memory essential rather than interchangeable. Cassidy's thesis hinges on data centers needing more storage density and better performance as AI models grow larger.
Sandisk's stock already gained 6.6% on the Rosenblatt call alone, rising to $1,884.05 Yahoo Finance. The move reflects broader optimism: according to MarketBeat, Sandisk carries an average Moderate Buy rating with a consensus target of $2,015.61 based on 23 Buy ratings and four Holds Yahoo Finance.
Sandisk's Earnings Beat Sets Stage for Rally
Sandisk reported quarterly earnings of $39.25 per share, beating the $33.28 consensus forecast by $5.97 GuruFocus. The company also posted an 87.84% return on equity and a 56.47% net profit margin, demonstrating pricing power and operational efficiency GuruFocus. These results lend credibility to Rosenblatt's bullish thesis.
The strong earnings backdrop distinguishes this call from purely speculative calls on AI hype. Cassidy's focus on technology advantages—BiCS8 and BiCS10 3D NAND—grounds his forecast in Sandisk's manufacturing roadmap TipRanks. The Kioxia partnership ensures Sandisk has secured supply chains even as rivals compete for capacity TipRanks.
Analyst Consensus Remains Strong But Not Unanimous
Wall Street backs Rosenblatt's optimism to a point. Goldman Sachs set a $2,200 target, Bank of America proposed $2,500, and Citigroup reduced its target to $2,100 TheStreet. RBC issued a Sector Perform rating with a $1,600 target, reflecting caution on valuation TheStreet. Broadly, LSEG data shows 24 of 28 analysts rated Sandisk Buy or Strong Buy.
The wide range of targets—from $1,600 to $2,500—signals disagreement over how much upside AI demand justifies. Some investors worry Sandisk's 644% year-to-date gain has already priced in much of the AI storage narrative GuruFocus. Rosenblatt's call assumes that narrative remains undervalued.
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