Nomura Securities Reiterates a 'Buy' on SanDisk (SNDK); Raising Numbers on Surprise Quarter
Tweet Send to a FriendGet Alerts SNDK Hot Sheet
Price: $57.90 -0.6%
Rating Summary:
18 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
18 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade SNDK Now!
Nomura Securities reiterates a 'Buy' on SanDisk (NASDAQ: SNDK) price target of $48.00 (from $45.00).
Analyst, Sidney Ho, said, "2Q results of $1.03bn/$0.21 were surprisingly in line with the company's guidance. Gross margin did not collapse as many had feared. We believe SanDisk benefited from its strategy to build inventory and not dump bits into the white label market. Q3 guidance of $1.2bn is also better that the Street expects. While macro uncertainties remain, seasonal build of smartphones, tablets and SSDs, combined with limited supply growth, is driving favorable supply-demand dynamics for 2H12 and likely 2013. Raising our 2013 EPS estimate from $2.80 to $3.00."
For an analyst ratings summary and ratings history on SanDisk click here. For more ratings news on SanDisk click here.
Shares of SanDisk closed at $35.08 yesterday, with a 52 week range of $30.99-$53.46.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Sidney Ho, said, "2Q results of $1.03bn/$0.21 were surprisingly in line with the company's guidance. Gross margin did not collapse as many had feared. We believe SanDisk benefited from its strategy to build inventory and not dump bits into the white label market. Q3 guidance of $1.2bn is also better that the Street expects. While macro uncertainties remain, seasonal build of smartphones, tablets and SSDs, combined with limited supply growth, is driving favorable supply-demand dynamics for 2H12 and likely 2013. Raising our 2013 EPS estimate from $2.80 to $3.00."
For an analyst ratings summary and ratings history on SanDisk click here. For more ratings news on SanDisk click here.
Shares of SanDisk closed at $35.08 yesterday, with a 52 week range of $30.99-$53.46.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- KeyBank Upgrades MDC Holdings (MDC); Cuts PulteGroup (PHM) & Ryland Group (RYL)
- Best Buy (BBY) Numbers Raised at Jefferies Post Q1
- UPDATE: UBS Downgrades Carnival (CCL) to Neutral; Worst May Not Be Behind
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Nomura
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
