Rosenblatt starts SanDisk at buy with $2,400 price target, betting NAND is the next AI bottleneck

Rosenblatt Securities initiated coverage on SanDisk with a Buy rating and a $2,400 price target on September 21, calling the NAND flash memory maker a structural beneficiary of the AI infrastructure buildout. The stock was trading between $1,750 and $1,766 at the time, which means analyst Kevin Cassidy is penciling in roughly 35-37% upside from current levels. The timing is not accidental. SanDisk joined the S&P 100 on the same day, a milestone that reflects just how dramatically the company’s profile has changed in a market reshaped by AI compute demand. From storage commodity to AI plumbing Central to Rosenblatt’s bullish view is SanDisk’s 25-year partnership with Kioxia, the Japanese memory manufacturer. That relationship gives SanDisk access to advanced process nodes, the cutting-edge fabrication technology needed to produce the kind of high-density, high-performance flash chips that AI platforms require. The company has also reportedly locked in multi-year supply contracts, the kind of deal structure that smooths out the boom-bust cycles NAND has historically been famous for. The numbers behind the rally SanDisk’s stock has already posted extraordinary gains in 2026, with ...