SanDisk price target lowered to $70 from $84 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on SanDisk (SNDK) to $70 from $84 and keeps an Overweight rating on the shares. The firm’s checks in DRAM have turned “remarkably positive in recent months” and though the firm agrees with the view that tariff pull forwards are a factor, “they are not the only thing driving pricing strength,” the analyst tells investors. For SanDisk, the firm sees “modest upside” to guidance for June and valuation keeps it positive, even as it reduces its price target the analyst added.