SanDisk price target lowered to $55 from $80 at Wedbush

Wedbush lowered the firm’s price target on SanDisk (SNDK) to $55 from $80 and keeps an Outperform rating on the shares. The firm says that in its first quarter as an again independent company, Sandisk hit the high end of its initially guided range. The company’s Q2 forecast easily topped prior Street revenue and EPS estimates.