Nomura Securities Maintains a 'Buy' on SanDisk (SNDK), But Slashes Estimates and Price Target
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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
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Nomura Securities maintains a 'Buy' on SanDisk (NASDAQ: SNDK) price target lowered from $60 to $45.
Analyst, Sidney Ho, said, "Q1 revenue of $1.21bn and EPS of $0.63 were in line with our estimates and preannounced results. Q2 guidance of $1.0bn in revenue was worse than many had feared. We are disappointed with the magnitude of the estimate cut, but believe the stock has mostly discounted the near term weakness. At 0.9x EV/S and 1.2x book, we believe the risk-reward is favorable for the 2H12 recovery. Our EPS estimate for 2012 goes from $3.70 to $1.80, and our 2013 estimate decreases from $5.00 to $2.80."
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 $40.47 yesterday.
Analyst, Sidney Ho, said, "Q1 revenue of $1.21bn and EPS of $0.63 were in line with our estimates and preannounced results. Q2 guidance of $1.0bn in revenue was worse than many had feared. We are disappointed with the magnitude of the estimate cut, but believe the stock has mostly discounted the near term weakness. At 0.9x EV/S and 1.2x book, we believe the risk-reward is favorable for the 2H12 recovery. Our EPS estimate for 2012 goes from $3.70 to $1.80, and our 2013 estimate decreases from $5.00 to $2.80."
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 $40.47 yesterday.
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