Rosenblatt initiated coverage of SanDisk (NASDAQ: SNDK) with a Buy rating. The firm established a price target of $2,400.00. Analysts identified NAND flash storage as a critical component for AI infrastructure.
Expanding AI model sizes and data-intensive inference drive the need for high-density storage. Rosenblatt noted that high-performance solutions are now prioritized over low-cost options.
The stock has delivered a 1,617% return over the past year. This initiation follows a reiterated Outperform rating from Mizuho and a Buy rating from Goldman Sachs. Goldman Sachs reported that SanDisk’s long-term financial guidance exceeded investor expectations.
Recent SEC filings also detailed significant, pre-planned stock sales by CEO David Goeckeler.