Bernstein Sees Continued NAND Dominance by SanDisk (SNDK), Raises Target to $75
Tweet
Share
E-mailGet Alerts SNDK Hot Sheet
Price: $1,596.08 -0.28%
Rating Summary:
29 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
29 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Bernstein's Mark Newman boosted his price target on shares of SanDisk (Nasdaq: SNDK) from $64.50 to $75 in a research note Thursday morning. The analyst maintains an Outperform rating on the stock.
Newman believes SanDisk and the broader NAND group still have room to move higher. The analyst argues NAND margins will remain high and less volatile than DRAM manufacturers. Newman sees Micron (NYSE: MU), Hynix, Toshiba and Samsung remaining profitable, however sees SanDisk as providing the highest margins throughout the sector.
Newman does warn of a potential compression in profit margins in NAND as a slightly oversupply into the end of this quarter and the first half of next year may weigh.
The analyst note comes as shares of SanDisk have surged by more than 50 percent since the near-term bottom set in August.
With SanDisk shares up about 1.5 percent to $49.78 Thursday morning, Bernstein's new price target suggests potential upside of about 51 percent.
Visit our Analyst Ratings page to track all the market-moving analyst action on shares of SanDisk.
Newman believes SanDisk and the broader NAND group still have room to move higher. The analyst argues NAND margins will remain high and less volatile than DRAM manufacturers. Newman sees Micron (NYSE: MU), Hynix, Toshiba and Samsung remaining profitable, however sees SanDisk as providing the highest margins throughout the sector.
Newman does warn of a potential compression in profit margins in NAND as a slightly oversupply into the end of this quarter and the first half of next year may weigh.
The analyst note comes as shares of SanDisk have surged by more than 50 percent since the near-term bottom set in August.
With SanDisk shares up about 1.5 percent to $49.78 Thursday morning, Bernstein's new price target suggests potential upside of about 51 percent.
Visit our Analyst Ratings page to track all the market-moving analyst action on shares of SanDisk.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Micron Unveils Micron Research Labs, a U.S.-Based Long-Horizon Innovation Hub to Shape the Future of Memory and AI
- Deere (DE) PT Lowered to $728 at UBS as Agricultural Machinery Cycle Gets Closer
- Intchains Group Ltd (ICG) PT Lowered to $2 at Benchmark Following 1H Results
Create E-mail Alert Related Categories
Analyst CommentsSign 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!
