Flash-memory chipmaker SanDisk (SNDK) got downgrades and price target cuts Thursday after its weak earnings and outlook, but analysts in general gave the company the benefit of the doubt, with one saying it was “fixable.” Pacific Crest Securities analyst Monika Garg, in a research report, lowered her price target on SanDisk stock to 75 from 82 but maintained an overweight rating. She said “we remain outperform due to SanDisk’s leadership in Nand
SanDisk (SNDK) is expected to see a decline in Q1 revenue and earnings in line with its preannouncement, and analysts anticipate lower guidance for Q2 when the flash-memory chipmaker reports financial results after the market closes Wednesday. Analysts polled by Thomson Reuters expect SanDisk earnings per share minus items of 66 cents, down 54% from the year-earlier quarter. Revenue is expected to drop 13.6% to $1.306 billion from Q1 2014. SanDisk
SanDisk (SNDK) early Thursday lowered its Q1 revenue guidance, prompting at least one analyst to downgrade the stock. The Milpitas, Calif.-based flash-memory chipmaker revised its Q1 revenue outlook to $1.3 billion, down 13% from the year-earlier quarter and below its prior guidance of $1.4 billion to $1.45 billion. Analysts polled by Thomson Reuters had modeled on $1.42 billion. Before SanDisk announced Q4 earnings in January, analysts had