Cowen Starts SanDisk (SNDK) at Underperform
More News related to SNDK
- SanDisk to Present at Upcoming Investor Conferences
- SanDisk Boosts SD Card Speed by Fifty Percent - Sets New Speed Record For SD Flash Memory Cards
- SanDisk (SNDK) volatility Flat at 60
- Citi Options Strategist Gives View on SanDisk (SNDK) Trade
- Citi Maintains 'Sell' Rating on SanDisk (SNDK), Sees Low Take-Over Probability
More News related to New Coverage
- Smith & Nephew Plc - Total Voting Rights
- Infinito Completes $18,000,000 Convertible Note Financing To Fund Crucitas Development
- American Issues Project Wraps Up First Phase of Ad Campaign Examining Relationship Between Barack Obama and Unrepentant Domestic Terrorist William Ayers
- Samuel Manu-Tech Inc. - Press release
- Smith & Nephew Plc - Transaction in Own Shares
Cowen & Co. initiates coverage on SanDisk (Nasdaq: SNDK) with an Underperform rating.
The firm believes SanDisk's premium valuation (currently trades at a 35% premium to the S&P 500 on its CY09 EPS estimate) is no longer justifiable and also feels that consensus estimates are too high given its exposure the the North American market.
Cowen expects manufacturing capacity and inventory levels to present a serious problem for SanDisk's NAND segment. The firm believes that NAND supply will remain too high into 2009, weighing on pricing and profitability.
SanDisk Corporation designs, develops, manufactures, and markets NAND-based flash storage card products that are used in various consumer electronics products.
Related Categories
New CoverageStocks Mentioned
-0.65Related Entities
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!
