SanDisk Initiated with Buy Rating and $60 PT at Jefferies

Jefferies analyst Blayne Curtis initiated coverage of SanDisk (SNDK) with a Buy rating and $60 price target. The firm sees the spin-off from Western Digital (WDC) as an opportunity to unlock shareholder value through market share gains in the enterprise solid state drives market. Curtis also notes that sustained content trends amid tariffs could lead to upside to estimates.

SanDisk Corp. (SNDK), the flash storage solutions provider that spun off from Western Digital (WDC) in February, has received a bullish call from Wall Street analyst Blayne Curtis of Jefferies. Curtis initiated coverage of SanDisk stock with a 'Buy' rating and a $60 price target, according to The Fly. This rating implies a potential 30% upside from the current stock price.

Curtis believes that the spin-off could unlock shareholder value by driving market share gains in the enterprise solid state drives market. He attributes this potential to updated technology and the company's next-generation products, such as BiCS8 chips and ultra QLC technology. These advancements are expected to capitalize on the growing demand for AI and data center spending.

Additionally, Curtis notes that sustained content trends amid ongoing tariffs could lead to an upside in the company's estimates. This optimism is echoed by Benchmark, which recently added SanDisk to its 'Best Ideas' list and raised its price target to $62 from $58, maintaining a 'Buy' rating on the stock. Benchmark's view is that the NAND business is entering a cyclical upturn, driven by AI opportunities and double-digit growth in data center spending.

On July 7, 2025, retail sentiment towards SanDisk stock on Stocktwits was 'bearish,' despite the analyst's bullish call. The sentiment was 'neutral' a day prior, indicating a shift in market perception. However, the message volume remained 'low' as of 4:37 a.m. ET.

SanDisk ended Thursday's session up 0.43% at $46.41. The company also announced a secondary offering of its shares held by Western Digital, comprising 18.54 million shares priced at $38.50 each, in early June.

Reference List:
1. [1] https://stocktwits.com/news-articles/markets/equity/sandisk-gets-bullish-initiation-from-jefferies-retail-sentiment-lags/chFtgIOR52y

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