SanDisk (SNDK) Price Target Raised to Triple Digits at RBC Capital
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Price: $1,568.87 -3.5%
Rating Summary:
29 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 9 | New: 24
Rating Summary:
29 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 9 | New: 24
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RBC Capital analyst Doug Freedman reiterated an Outperform rating on SanDisk (NASDAQ: SNDK) and boosted his price target from $84 to $100 citing ULLtraDIMM's revenue opportunity.
Freedman said, "Reiterate OP rating and raise PT to $100 from $84, as we increase multiple reflecting increasing transparency of SanDisk’s best in class technology through positive changes in the memory industry. ULLtraDIMM opportunity could add incremental ~$1.15 and ~$3.00 to CY14E & CY15E EPS respectively as potential revenue contributions are flying under the radar."
Freedman notes the memory cycle is favorably changing with SanDisk likely the best positioned in NAND. He says the ULLtraDIMM opportunity could be $3.00 in CY16
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 $78.48 yesterday.
Freedman said, "Reiterate OP rating and raise PT to $100 from $84, as we increase multiple reflecting increasing transparency of SanDisk’s best in class technology through positive changes in the memory industry. ULLtraDIMM opportunity could add incremental ~$1.15 and ~$3.00 to CY14E & CY15E EPS respectively as potential revenue contributions are flying under the radar."
Freedman notes the memory cycle is favorably changing with SanDisk likely the best positioned in NAND. He says the ULLtraDIMM opportunity could be $3.00 in CY16
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 $78.48 yesterday.
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