SanDisk Gets Wall Street Boost As Rising Chip Prices, Smart Spending Boosts Margins

BofA Securities analyst Wamsi Mohan initiated coverage on SanDisk SNDK with a Buy rating and a price target of $61 on Wednesday.Mohan noted that SanDisk is a leading developer and manufacturer of data storage devices based on NAND flash technology.The rerating reflected: • Improving memory pricing as supply and demand have turned favorable.• Margins upside given pricing trajectory and operating leverage.• Better through-cycle economics given the mix of end markets relative to peers.• A joint venture structu ...