Rosenblatt adds SanDisk to buy list after 644% share price surge

Investment bank Rosenblatt has initiated coverage of SanDisk with a buy rating and a price target of $2.400. The move comes after the stock has already risen by 644% in 2026. The price target was initially 36% above Monday’s closing price, but after a further gain of 7% on the Nasdaq to around $1.894, the expected upside has now narrowed to around 27%.

In brief:

• Rosenblatt gives SanDisk a buy rating with a price target of $2.400
• The stock has already risen by 644% in 2026 and has since added a further 7%
• Growing demand for AI infrastructure is driving interest in NAND flash storage

AI is changing the role of flash storage

According to Rosenblatt, the rise of AI is bringing about a fundamental shift in how NAND flash storage is viewed. Where this type of memory was previously seen as a standard commodity, it is now increasingly regarded as an essential component of AI infrastructure.

Demand for fast enterprise SSDs with high storage capacity is growing as more companies integrate AI applications into their systems. That makes SanDisk, as a specialised provider in this field, more attractive to investors.

Price target remains achievable despite further gains

At the time Rosenblatt issued the buy rating, SanDisk closed at $1.766,64. The $2.400 price target therefore equated to expected upside of 36%.

Because of the 7% gain that followed, the potential upside has decreased, but with the price around $1.894, Rosenblatt’s price target remains around 27% above the current level.