UBS Maintains a 'Buy' on SanDisk (SNDK); Growth Thesis Remains Intact Despite Soft N-T Femand
Tweet
Share
E-mailGet Alerts SNDK Hot Sheet
Price: $1,641.11 +7.39%
Rating Summary:
29 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
29 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
UBS maintains a 'Buy' on SanDisk (NASDAQ: SNDK) price target lowered $2 to $60.
UBS analyst says, "Q4 results were slightly below our aggressive ests but ahead of cons. Outlook for 1H weakness on seasonality and mobile customer competitive challenges were the big surprises. Despite the 1H shortfall, we believe our long-term thesis is intact as: 1) SSDs are on track to see a demand inflection in C12, 2) NAND supply growth is well managed with SNDK and MU announcing plans to suspend capacity growth, 3) valuation is supportive with $17 in cash. Though shares could struggle near term due to the weak Q1, we maintain our rating with a $60 PT as we expect a recovery from Q2."
"We lower our Q1 sales/non-GAAP EPS ests by -11%/-23% to $1.32bn/$0.87 (GAAP $0.79), and our C12 ests by -2%/-8% to $6.5bn/$4.80 with growth weighted towards 2H."
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 $52.34 yesterday.
UBS analyst says, "Q4 results were slightly below our aggressive ests but ahead of cons. Outlook for 1H weakness on seasonality and mobile customer competitive challenges were the big surprises. Despite the 1H shortfall, we believe our long-term thesis is intact as: 1) SSDs are on track to see a demand inflection in C12, 2) NAND supply growth is well managed with SNDK and MU announcing plans to suspend capacity growth, 3) valuation is supportive with $17 in cash. Though shares could struggle near term due to the weak Q1, we maintain our rating with a $60 PT as we expect a recovery from Q2."
"We lower our Q1 sales/non-GAAP EPS ests by -11%/-23% to $1.32bn/$0.87 (GAAP $0.79), and our C12 ests by -2%/-8% to $6.5bn/$4.80 with growth weighted towards 2H."
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 $52.34 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- SanDisk (SNDK) PT Raised to $1,600 at RBC Capital
- Mizuho Reiterates Outperform Rating on SanDisk (SNDK)
- JPMorgan Resumes SanDisk (SNDK) at Overweight
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
UBSSign 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!
