Canaccord Genuity Maintains a 'Buy' on SanDisk (SNDK); Manifest Destiny: Pliant Acquisition Offers Enterprise SSD Solutions
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Price: $1,600.62 +2.02%
Rating Summary:
29 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
29 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Canaccord Genuity maintains a 'Buy' on SanDisk (NASDAQ: SNDK), PT $70.
Canaccord analyst says, "On the cusp of more material SSD adoption (2% of overall NAND demand in '11, with PBs growing 2x in '12 by our estimates), we believe SNDK's acquisition is prudent given it addresses the Enterprise SLC SSD hole in its current portfolio. In our view, favorable market reaction yesterday reflects SNDK closing the gap to Toshiba (via Violin investment) and MU (RealSSD P300 series), as Samsung and Hynix face tougher in-roads at this junction where an acquisition play could be their best bet into garnering key OEM design wins."
"We currently model Pliant revenue at $9mil/3Q11, $12mil/4Q11 and $90mil/CY12. Our pf EPS is now: $4.65/CY11 (vs. $4.70 prior) and $6.30/CY12 (vs. $6.24 prior)."
For more ratings news on SanDisk click here and for the rating history of SanDisk click here.
Shares of SanDisk closed at $47.95 yesterday.
Canaccord analyst says, "On the cusp of more material SSD adoption (2% of overall NAND demand in '11, with PBs growing 2x in '12 by our estimates), we believe SNDK's acquisition is prudent given it addresses the Enterprise SLC SSD hole in its current portfolio. In our view, favorable market reaction yesterday reflects SNDK closing the gap to Toshiba (via Violin investment) and MU (RealSSD P300 series), as Samsung and Hynix face tougher in-roads at this junction where an acquisition play could be their best bet into garnering key OEM design wins."
"We currently model Pliant revenue at $9mil/3Q11, $12mil/4Q11 and $90mil/CY12. Our pf EPS is now: $4.65/CY11 (vs. $4.70 prior) and $6.30/CY12 (vs. $6.24 prior)."
For more ratings news on SanDisk click here and for the rating history of SanDisk click here.
Shares of SanDisk closed at $47.95 yesterday.
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