Wells Fargo analyst Aaron Rakers lowered the firm’s price target on SanDisk (SNDK) to $45 from $56 and keeps an Equal Weight rating on the shares. The firm cites macro uncertainty and forthcoming WD 28.8M share dissolution via debt-for-equity transfer. That said, SanDisk’s structural comments on NAND leave Wells to consider a thru-cycle EPS story in $5/share-plus range.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SNDK: