Citi reiterates Buy rating on SanDisk with $2,100 target

Citi analyst Asiya Merchant reiterated a Buy rating and a $2,100.00 price target on SanDisk (NASDAQ: SNDK).

Merchant noted that SanDisk's outlook centers on NAND entering a longer-term demand environment driven by AI infrastructure and inference. Datacenter demand, fueled by hyperscale AI deployments, enterprise SSD adoption, AI data lakes, and KV cache requirements, has become the primary growth engine, according to the analyst.

Merchant added that smartphones, PCs, and other edge devices are expected to reaccelerate beginning in 2027, as AI-enabled devices drive higher storage content per unit. Industry and company bit growth are expected to remain in the mid-to-high teens annually, supported by node transitions and technology-driven productivity improvements.

The analyst also noted that multi-year customer agreements are reinforcing management's confidence in long-term demand forecasts.

Shares of SanDisk closed at $1,737.99 in the prior session.

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