UBS maintains a 'Buy' on SanDisk (SNDK); Finally An Inflection Point...An It Has Legs

July 20, 2012 3:49 PM EDT Send to a Friend
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Price: $100.22 +0.18%

Rating Summary:
    22 Buy, 11 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 16 | Down: 14 | New: 38
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UBS maintains a 'Buy' on SanDisk (NASDAQ: SNDK) price target of $44.00.

Last night, SanDisk reported Q2 earnings that topped estimates by $0.02. Revenues were in-line at $1.03B.

On its Q2 conference call, SNDK said it was looking for Q3 sales of about $1.2 billion, which compares to the Street estimate of $1.22 billion, sees gross margin 28 percent +/- 2 points.

Remarking on SNDK's financials, UBS analyst, Uche Orji, said there's finally an inflection point...and it has legs. Shares of SNDK are trading up almost 11% today, but the stock is down from 1-year ago.

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.




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