UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on SanDisk Corporation

In a report published Monday, Jefferies & Company reiterated its Buy rating on SanDisk Corporation

, and raised its price target from $46.00 to $51.00. Jefferies noted, “SNDK has rallied 30% off the bottom, and investor expectations have increased. We maintain our Buy rating for two reasons: 1) we continue to believe a combination of improving product mix and higher NAND prices is likely to drive gross margin upside near term, and 2) we view the upcoming Win8 launch as a positive catalyst. Reit Buy with $51 PT.” SanDisk Corporation closed on Friday at $42.28.