UPDATE: Wedbush Securities Upgrades SanDisk Corporation to Outperform, Raises PT
In a report published Monday, Wedbush Securities upgraded its rating on SanDisk Corporation (NASDAQ: SNDK) from Neutral to Outperform, and raised its price target from $39.00 to $49.00.
Wedbush Securities noted, “We upgrade SanDisk (SNDK) to an OUTPERFORM rating ahead of the company's Q3 report set for AMC on Thursday, October 18. We expect SNDK to print a beat and provide Q4 guidance largely in-line with the Street's already high expectations driven by (1) favorable NAND pricing environment, (2) ramp of design wins at Tier 1 OEMs, and (3) seasonality. We believe the pullback in the stock has created a compelling entry point and recommend investors buy shares.”
SanDisk Corporation closed on Friday at $42.28.
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