UBS Defends SanDisk (NASDAQ: SNDK); Positive Long-Term Thesis Intact
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Price: $1,769.99 +5.74%
Rating Summary:
27 Buy, 20 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 22 | New: 8
Rating Summary:
27 Buy, 20 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 22 | New: 8
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UBS maintains a 'Buy' on SanDisk (NASDAQ: SNDK) price target lowered from $60 to $57.
Analyst, Uche Orji, said, "Despite lackluster 1H demand trends that are worse than expected, our positive long term thesis remains unchanged as we expect 2H seasonality from new smartphone/tablet product cycles and mainstream adoption of SSD to underpin growth. Finally, we expect slowing industry capacity additions to set up a strong 2H in terms of ASP and margin improvement."
FY12/13 EPS estimate cut from $4.48/5.20 to $3.80/4.73.
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 $50.05 yesterday.
Analyst, Uche Orji, said, "Despite lackluster 1H demand trends that are worse than expected, our positive long term thesis remains unchanged as we expect 2H seasonality from new smartphone/tablet product cycles and mainstream adoption of SSD to underpin growth. Finally, we expect slowing industry capacity additions to set up a strong 2H in terms of ASP and margin improvement."
FY12/13 EPS estimate cut from $4.48/5.20 to $3.80/4.73.
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 $50.05 yesterday.
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