Rosenblatt's Kevin Cassidy just initiated $SNDK at Buy with a $2,400 target, about 35% above where it traded today. Management's framework for FY28 to FY30 is mid-to-high-teens revenue growth, roughly 80% gross margins, and half of every dollar of revenue turning into free cash flow. Rosenblatt calls its $300 FY30 EPS estimate conservative. At $2,400 you'd be paying about 8 times that FY30 number. For a business with 80% gross margins and most of its output pre-sold, that isn't a hype multiple, it's the market still pricing SanDisk like the old cyclical it used to be. The target sits comfortably above the roughly $2,000 street average, right next to BofA's $2,500. $SNDK is one of my largest positions. I’m hyper bullish on this name.