Jefferies Reiterates Buy SanDisk as Moore Stress Drives Capacity Discipline

In a report published Thursday, Jefferies analyst Sundeep Bajikar reiterated a Buy rating and $70.00 price target on SanDisk Corporation

. In the report, Bajikar noted, “Q1 results and Q2 guidance beat, and management raised CY13 guidance after deciding not to add wafer capacity this year. We continue to believe Moore Stress is driving capacity discipline, and think SanDisk's upcoming analyst day is likely to help investors form a better understanding of this structural industry dynamic. We think increased concerns around capacity additions have driven higher short interest in SNDK. Reit Buy.” SanDisk Corporation closed on Wednesday at $55.72.