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SanDisk Corp. Message Board

  • cohen00949 cohen00949 Jun 7, 2011 3:04 AM Flag

    GS upgrade SNDK to 55$

    For the next 6 month.It is a begining of new period for SNDK. the target price now move between 55$ to 70$.It is time to be long.

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    • Thanks Busy , you make good sense .

    • though weekly looks BEARISH we should get a bounce, 44.5 is very real and we can't rule out 46 yet.

      do not forget to book profits on your puts.

    • just another BS day .

    • Very true. All they really care about is their commissions.

    • Link?

      • 1 Reply to theirrunning
      • text below

        note that it is an upgrade from gs on sndk. they were neutral before they paused coverage in may. now a buy rating and also pt upped.

        Americas: Technology: Semiconductors
        Equity Research
        Resume on memory: Buy SanDisk, Sell Micron, Neutral on STEC
        We see balanced NAND supply/demand, but oversupply in DRAM
        Supply additions should remain measured in both NAND and DRAM into
        the end of 2011. However, we see continued weak PC demand resulting in
        DRAM oversupply through mid-2012. Despite meaningful NAND capacity
        additions by 1H2012E, we expect relatively healthy NAND supply/demand
        dynamics given strong demand growth in smartphones, tablets, and SSDs.
        Buy SNDK: Strong growth drivers, supply/demand balance into 2H
        We are resuming coverage of SanDisk with a Buy rating and a $55 price
        target. We believe the stock can trade higher over the next several quarters
        based on: (1) Tight supply dynamics in the NAND flash market through the
        end of 2011, (2) Strong secular demand drivers in smartphones and tablets,
        with smartphone unit growth of 57% and 36% in 2011/12 and tablet unit
        growth of 223% and 35% in 2011/12, (3) An improving market position in
        enterprise solid state drives (SSDs) post its recent acquisition of Pliant, and
        (4) Structurally higher profitability relative to peers given the strong royalty
        stream derived from SanDisk’s extensive patent portfolio.
        Sell MU: DRAM fundamentals still weak, little valuation support
        We are resuming Micron with a Sell rating and an $8 price target. We
        believe investors should sell the stock as: (1) The stock has significantly
        outperformed memory ASPs due to expectations for a pronounced DRAM
        pricing recovery that we believe are unwarranted, (2) We think the market
        is too optimistic on Micron’s gross margins, with the consensus GM flat or
        up qoq for each of the next 7 quarters, and (3) Micron is not yet well
        positioned to capitalize on strong growth in mobile DRAM for smartphones.
        Although we recognize Micron’s more diversified model should
        reduce future volatility, the combination of limited free cash flow in
        CY2011E and DRAM ASP pressure should drive the stock down from here.
        STEC: Solid valuation post pullback but competition an overhang
        We are resuming coverage of STEC with a Neutral rating and a $20 price
        target. We believe STEC remains well positioned in the rapidly growing
        SSD market, and the company is likely to retain a leadership position in the
        enterprise storage segment of the market. Although we believe STEC will
        continue to expand rapidly in this hyper-growth market, we think it is likely
        to lose market share as key customers develop second sources, and new
        competitors (such as SanDisk) enter the market with acquired technology.

        James Schneider, Ph.D.
        (917) 343-3149 Goldman Sachs & Co.
        James Covello
        (212) 902-1918 Goldman Sachs & Co.
        Mark Delaney
        (212) 357-0535 Goldman Sachs & Co.
        Gabriela Borges
        (212) 357-2692 Goldman Sachs & Co

75.06-0.26(-0.35%)10:44 AMEDT