BOA Says SanDisk Corporation(NASDAQ:SNDK) Not Likely to Meet Consensus

0

BofA/Merrill has concerns SanDisk Corporation(NASDAQ:SNDK) will report a Q1 miss given weaker than seasonal NAND demand at Asian chipmakers and ASP erosion. The firm has bigger concerns of a Q2 miss given bullish consensus estimates adn potential for Asian chipmakers to be more aggressive in NAN price cuts due to excess inventories. Shares are Underperform rated.

Analysts have a consensus price target of $78 on SanDisk Corporation(NASDAQ:SNDK) which indicates a 31% upside. The consensus rating of the stock is a BUY with a score of 2.50. There are currently 11 Hold Ratings, 14 Buy ratings and 2 Sell ratings on the stock.

A recent analyst action consisted of ISI Group initiating coverage with a neutral rating and $87 price target.

In Other Tech News

Infosys Ltd ADR (NYSE:INFY) announced earlier today that its board has begun the search to select the successor to Mr. S. D. Shibulal, its CEO and Managing Director. Shibulal has expressed his desire to retire as the CEO and MD of the company and as a member of the board either on the date of the last board meeting before his superannuation – January 9, 2015 or when his successor is ready to assume office, whichever date is earlier. The board said it will short list and evaluate an internal slate of candidates with the assistance of Development Dimensions International The board has also appointed Egon Zehnder, an executive search firm, to assist in identifying an external slate of candidates.

Suggested Reading: Hedge Fund Strategies

Share.

Leave A Reply