Rosenblatt starts Sandisk at Buy with $2,400 target; shares rise about 6%

Rosenblatt Securities initiated coverage of Sandisk at Buy with a $2,400 price target on September 22, 2026. Analyst Kevin Cassidy argues that AI compute platforms are turning NAND flash into a more critical part of AI infrastructure. He estimates that new multiyear agreements with eight large NAND buyers could cover about 65% of fiscal 2028 production, and shares rose about 6% in morning trading to around $1,875.

• Rating: Buy; price target $2,400 (analyst Kevin Cassidy)
• Shares up about 6% in morning trading, around $1,875
• Thesis: NAND becomes critical AI infrastructure, not a commodity
• Estimate: eight NAND customer agreements could cover about 65% of FY2028 production