Sandisk settled 6.8% higher on Tuesday at $1,887.04 per share, the highest level since July 2026. The rally rests on a supply-demand imbalance, backed by recent coverage from a U.S. investment bank Rosenblatt with a target price that indicates 27% upside from the current trading price.
The U.S. investment bank initiated the coverage on the stock following with a Buy recommendation. Broader analyst sentiment is also positive: LSEG data show 24 Buy recommendations and four Holds, with none advising investors to sell. The consensus target price stands at $2,136.17.
Rosenblatt’s assessment focuses on how AI computing is changing requirements for NAND flash. Rather than serving primarily as commodity storage, the technology could take a more essential role within AI systems. As models expand and inference becomes more data-intensive, buyers increasingly emphasize storage density, speed, durability and dependable availability instead of simply choosing the cheapest option.
Sandisk’s financial framework for fiscal 2028 through fiscal 2030 sets revenue growth in the mid-to-high teens. Management also targets non-GAAP gross and operating margins of approximately 80% and 75%, respectively, alongside an adjusted free-cash-flow margin of 50%.
The company’s existing 71% gross margin represents movement toward those objectives. Using that framework, Rosenblatt estimates fiscal 2030 non-GAAP earnings at roughly $300 a share, describing its projection as conservative.
