SanDisk Reiterated 'Buy' By Deutsche Bank
Thursday, January 26, 2022 3:09 PM

Deutsche Bank reiterated its "Buy" rating on SanDisk Corp. (NASDAQ:SNDK), with a price target of $55.

The bank wrote that the data storage company delivered solid fourth-quarter results but 2012 guidance well below Street, but in-line with its estimate.

"It is clear NAND has not escaped entirely from the cyclical nature of the semiconductor market, but we remain optimistic that SNDK's own actions to preserve margins & delay capex will help the company manage through the uncertainty," DB wrote in a note.

SNDK handily outperformed the semiconductor industry in 2011 and despite the more guarded outlook for the first quarter is likely to do so again in 2012, the bank added.

Shares of SNDK, which have been trading in the 52-week range between $32.24 and $53.46, tumbled 12.17% to trade at $45.95 on Thursday.