Nomura Securities Reiterates a 'Buy' on SanDisk (SNDK); Raising Numbers on Surprise Quarter
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Price: $58.25 --0%
Rating Summary:
18 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 25 | New: 12
Rating Summary:
18 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 25 | New: 12
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.
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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.
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