SanDisk Corp. (SNDK)

[chmcnfunds]

Nomura Securities Reiterates a 'Buy' on SanDisk (SNDK); 4Q Preview

January 23, 2012 10:34 AM EST
Nomura Securities reiterates a 'Buy' on SanDisk (NASDAQ: SNDK) price target of $65.00.

Analyst, Sidney Ho, said, "SanDisk will report 4Q11 results on Wednesday, January 25, after the market close. We expect revenue to come in at the high end of guidance ($1.5-1.6bn), vs. our/consensus estimate of $1.57bn. We believe strong OEM business will more than offset weak retail sales. Favorable mix should drive better pricing and margins. As such, we see upside to our EPS estimate of $1.28 (consensus at $1.25). Favorable demand-supply especially in 2H 2012 should drive upside to revenue growth and gross margins in 2012. In our view, the solid state drive (SSD) opportunity for both client and enterprise is underappreciated. Consensus is only pricing in normal seasonal trends in our view."

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 $52.49 yesterday, with a 52 week range of $32.24-$53.46.
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