Loading...
Loading...
In a report published Thursday, Stifel analyst Kevin Cassidy reiterated a Buy rating on
SanDisk CorporationSNDK, and raised the price target from $75.00 to $84.00.
In the report, Stifel noted, “SanDisk reported record revenues and earnings in the 3Q13 as its product mix continues to shift toward Solid State Drive solutions. Important to our thesis on owning the shares is that expected 2014 supply growth estimates for the company and the industry remain at 25%-35% and 40%, respectively. Various industry demand growth estimates for 50% y/y suggest the supply/demand ratio should remain favorable for SanDisk through 2014. Based on this dynamic we are maintaining our Buy rating and increasing our estimates and 12-month price target.”
SanDisk Corporation closed on Wednesday at $62.94.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in