Wedbush Maintains Neutral Rating on SanDisk, but Lowers PT

In a report issued earlier today, Wedbush Securities maintained its Neutral rating on SanDisk Corporation SNDK, but lowered its price target from $45 to $42. Wedbush went on to say in the report “We are concerned that the lowered GM guidance could imply that production cost reductions may no longer be outpacing NAND ASP declines, which could potentially set the stage for a more challenging environment for SanDisk in the 2H:12.” SanDisk Corporation closed at $50.05 yesterday.