{
  "id": 9139477,
  "title": "’Not your father’s Sandisk’: Rosenblatt starts coverage at Buy",
  "url": "https://urgent.news/2026/09/22/not-your-fathers-sandisk-rosenblatt-starts-coverage-at-buy",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-22T12:33:10.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/stock-market-news/not-your-fathers-sandisk-rosenblatt-starts-coverage-at-buy-4910803"
  },
  "original_language": "en",
  "account": "Rosenblatt has started coverage of Sandisk with a Buy rating, asserting that artificial intelligence is changing NAND flash memory from a commodity into a crucial component of computing infrastructure. Analyst Kevin Cassidy has set a $2,400 price target for Sandisk shares. This adjustment comes as AI compute platforms drive a shift in the perception of NAND from a basic storage medium to a more critical element of AI infrastructure. As models grow in size and data-intensive inference becomes more prevalent, density, performance, endurance, and supply certainty now outweigh price as key factors. Cassidy highlighted Sandisk's 25-year roadmap, developed with manufacturing partner Kioxia, which supports this transformation. BiCS8 and BiCS10 platforms are expected to maintain a density advantage over competitors due to their use of fewer 3D layers. Cassidy anticipates mid-to-high-teens revenue growth over fiscal years 2028 to 2030, coupled with a non-GAAP gross margin around 80% and a 50% adjusted free-cash-flow margin. He attributes improved demand visibility and reduced volatility in the sector to new business model agreements with eight of the largest NAND customers, potentially covering about 65% of fiscal 2028 production. Based on these projections, Cassidy conservatively estimates fiscal 2030 non-GAAP earnings of approximately $300 per share. This price target is derived from a 10x multiple applied to his fiscal 2028 earnings estimate, considering the optimistic growth outlook, while acknowledging execution risks and the potential return of NAND to cyclical, commodity-like pricing.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "CNBC",
        "title": "Sandisk has gained more than 600% in 2026. It still has room to run, Rosenblatt says",
        "url": "https://urgent.news/2026/09/22/sandisk-has-gained-more-than-600-in-2026-it-still-has-room-to-run",
        "published": "2026-09-22T10:41:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}