Nomura Securities Maintains a 'Buy' on SanDisk (SNDK); Cutting Numbers on Q1 Setback; 2H Story Still Intact
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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
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Nomura Securities maintains a 'Buy' on SanDisk (NASDAQ: SNDK) price target lowered from $65 to $60.
Analyst, Sidney Ho, said, " SanDisk cut its Q1 revenue outlook from $1.3-1.35bn to $1.2bn and gross margin is expected to miss the original guidance of 39-42%. Pricing weakness in Q1 should not be too surprising given Micron’s comments a few weeks ago. While uncertainties remain for Q2, we continue to expect a snapback in revenue and margins in 2H12, driven by seasonal build of smartphones and solid state drives. We think now is a good time to be adding to positions. Our 2012/2013 EPS estimates go from $5.00/$6.00 to $3.70/$5.00 vs. Street at $4.73/$5.46, respectively."
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 $50.05 yesterday.
Analyst, Sidney Ho, said, " SanDisk cut its Q1 revenue outlook from $1.3-1.35bn to $1.2bn and gross margin is expected to miss the original guidance of 39-42%. Pricing weakness in Q1 should not be too surprising given Micron’s comments a few weeks ago. While uncertainties remain for Q2, we continue to expect a snapback in revenue and margins in 2H12, driven by seasonal build of smartphones and solid state drives. We think now is a good time to be adding to positions. Our 2012/2013 EPS estimates go from $5.00/$6.00 to $3.70/$5.00 vs. Street at $4.73/$5.46, respectively."
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 $50.05 yesterday.
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