Deutsche Bank Upgrades SanDisk (SNDK) to Buy
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Price: $1,641.11 --0%
Rating Summary:
29 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 19
Rating Summary:
29 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 19
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Deutsche Bank upgraded SanDisk (NASDAQ: SNDK) from Hold to Buy and maintained their $55 price target.
The firm states, "We now believe SNDK margins will become far more sustainable in 2012 thanks to a combination of balanced industry supply growth and SNDK's leadership in TLC NAND. Continued cost leadership (thanks to TLC) should result in solid product GM through 2012 even in a muted demand environment. The improved outlook on margins combined with attractive valuation (+$25/share book value and $350m of annual royalties) leads us to raise our rating from Hold to Buy."
The firm left 2011 estimates largely unchanged but raised 2012 estiamtes sharply due to a more favorable outlook for ASPs and margins. 2012 EPS moves up 28% from $3.31 to $4.25.
For more ratings news on SanDisk click here and for the rating history of SanDisk click here.
Shares of SanDisk closed at $41.50 yesterday.
The firm states, "We now believe SNDK margins will become far more sustainable in 2012 thanks to a combination of balanced industry supply growth and SNDK's leadership in TLC NAND. Continued cost leadership (thanks to TLC) should result in solid product GM through 2012 even in a muted demand environment. The improved outlook on margins combined with attractive valuation (+$25/share book value and $350m of annual royalties) leads us to raise our rating from Hold to Buy."
The firm left 2011 estimates largely unchanged but raised 2012 estiamtes sharply due to a more favorable outlook for ASPs and margins. 2012 EPS moves up 28% from $3.31 to $4.25.
For more ratings news on SanDisk click here and for the rating history of SanDisk click here.
Shares of SanDisk closed at $41.50 yesterday.
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