RBC Capital Downgrades SanDisk (SNDK) to Sector Perform, Limited Upside

RBC Capital downgraded SanDisk (NASDAQ: SNDK) from Outperform to Sector Perform with a price target of $50.00.

"After solid results and guidance last week, we believe there are elevated risks in the coming 6–8 weeks that limit upside to shares," analyst Doug Freedman comments. "Primarily, the recent upward momentum in NAND pricing could slow in the face of uncertain macro environment and increasing threat of oversupply in Q1. We advise investors to be on the sidelines until a more attractive entry-point surfaces, possibly in late Q1 / early Q2, before trying to play secular growth from SSD ASP demand elasticity."

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 $44.02 yesterday.

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