He was on pace for 107 last year while having Gibbons on his line most of the year, playing a shutdown role, with an injured wrist, and Bylsma as coach. I don't think it's a stretch at all to say he'll get over 110.
Who is the upgrade on the wing over Gibbons this year? Hornqvist is currently playing with him, but will that last once Geno is back? Crosby will be back to having Kunitz and a mystery winger on his RW again. Also, his wrist wasn't injured until late March. He played with that injury for maybe 10 or so games. It's not like he scored 104 points playing with a bum wrist for the entire season.
Plus, this "he was on pace" thing is a bit misleading because his actual total was 104. Missing games also count as a negative when it comes to projecting totals. If Sid is "on pace" for over 110 points, but finishes below it because he only plays 75 games this season (for example), then he did not score 110+ points, pace notwithstanding.
I just don't see him scoring greater than 110 points, not with his current linemates, the likelihood of missing a couple of games here and there, and with the league not calling many penalties. Sid's played 5 full seasons of 70+ games, recording 100 points those five seasons. And yet he's only surpassed 110 points one time, and that's when the NHL was dishing out powerplays like they were going out of style.
I'd love to eat crow, especially on this topic. But, IMO, anyone expecting more than 110 points is setting themselves up for disappointment.