SanDisk price target lowered to $59 from $61 at BofA

BofA lowered the firm’s price target on SanDisk (SNDK) to $59 from $61 and keeps a Buy rating on the shares after the company reported a beat on revenue and EPS in the quarter and guided fiscal Q1 revenue above consensus. However, the firm attributes after-hours weakness to gross margin guidance of 29% at the midpoint versus the 30% consensus forecast. The firm’s FY26 revenue and EPS forecasts move to $8.8B and $5.00 from $8.4B and $5.26, respectively, following the report.