From 24/7 Wall St. · David Moadel · · 1m 10s
SanDisk Jumps 6% as Rosenblatt Starts Coverage
Rosenblatt Securities initiates SanDisk at Buy with $2,400 target, sparking 6% jump.
In brief
Rosenblatt Securities initiates SanDisk at Buy with $2,400 target, sparking 6% jump. Rosenblatt Securities started coverage of SanDisk at Buy with $2,400 target, driving a 6% stock surge. Originally reported by 24/7 Wall St..
Rosenblatt Initiates SanDisk
Rosenblatt Securities has initiated coverage of SanDisk at Buy with a $2,400 price target.
SanDisk Surges 6%
SanDisk stock rose 6% to $1,875, extending a year-to-date gain of 677%.
Memory Sector Reacts
The Roundhill Memory ETF rose 2% while the SPDR S&P 500 ETF Trust remained flat.
Micron and Seagate Rise
Micron Technology rose 3% and Seagate Technology rose 1% in Tuesday morning trading.
Rosenblatt's AI Argument
Kevin Cassidy argued AI compute platforms reposition NAND flash from commodity storage to system-critical AI infrastructure.
BiCS8 and BiCS10 Platforms
SanDisk's BiCS8 and BiCS10 platforms achieve higher storage density with fewer layers than rivals.
Customer Agreements
SanDisk has agreements with eight largest NAND customers covering 65% of fiscal 2028 production.
Rosenblatt's Risks
Rosenblatt warned execution risk and potential commodity pricing could dampen the NAND cycle.
What to Watch Next
Investors should monitor if SanDisk's customer agreements convert to contracted demand and peer reactions.
The takeaway
Rosenblatt Securities started coverage of SanDisk at Buy with $2,400 target, driving a 6% stock surge.
