SanDisk initiated with a Market Perform at Raymond James

Raymond James analyst Srini Pajjuri initiated coverage of SanDisk (SNDK) with a Market Perform rating and no price target The company stands to benefit from the growing need for data storage across smartphone, PC, consumer, and data center markets, the analyst tells investors in a research note. The firm says that while near-term pricing trends are weak, recent production cuts should improve the demand and supply balance in the second half of 2025. However, it is “taking a more guarded view” on pricing and is less sure about sustainability given subdued demand. Also, SanDisk remains under-indexed in the important data center artificial intelligence market, contends Raymond James.