Jefferies Reiterates a 'Buy' on SanDisk (SNDK); Q2 Beat, Gross Margin Upside Potential; Cuts FY12/13

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 8/16/2026

1. AMAT
2. SPY
3. GLOB
4. RDDT
5. HTFL
6. SNDK
7. WDAY
8. ADYEN:NA
9. DVLT
10. ADYYF

July 20, 2012 7:32 AM EDT
Get Alerts SNDK Hot Sheet
Price: $1,641.11 +7.39%

Rating Summary:
    29 Buy, 18 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Jefferies reiterates a 'Buy' on SanDisk (NASDAQ: SNDK) price target of $46.00.

Analyst, Sundeep Bajikar, said, "Q2 results beat, and guidance for Q3 revenue growth of 16% quarter-over-quarter signals a strong ramp of new Embedded NAND into Apple and SSD products into Enterprise and Ultrabook. We think a combination of improving product mix and improving NAND prices is likely to drive gross margin upside as early as Q3."

Bajikar lowered FY12 EPS estimate from $1.53 to $1.33 and FY13 from $2.84 to $2.63.

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 $35.08 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View

Related Entities

Jefferies & Co