Jefferies Boosts Numbers on SanDisk (SNDK) Ahead of Q4, Says Moore Stress in Play

Jefferies raised estimates and its price target on Buy-rated SanDisk (NASDAQ: SNDK) from $51 to $59.

The firm comments, "We continue to believe Moore Stress is driving industry NAND supply moderations, which we believe is likely to translate into stability in NAND prices over the next 6-to-12 months. We expect favorable NAND prices and a mix shift toward SSD to drive ~300bps of GM upside in Q4, and think depreciation of JPY vs. USD could add ~150bps to the GM upside."

Q4 EPS goes up from $0.53 to $0.68, FY12 from $1.36 to $1.51 and FY13 from $2.76 to $2.96.

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 $48.46 yesterday.

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