Wedbush analyst Matt Bryson raised the firm’s price target on SanDisk (SNDK) to $1,200 from $740 and keeps an Outperform rating on the shares. The firm is raising the company’s estimates and price target to reflect both better than expected conditions in NAND in the current quarter, but also better pricing setup into CQ2 than it had envisioned. Having said this, Wedbush believes its numbers still remain relatively conservative vs. end market trends, particularly given its conversations which have suggested that SanDisk has been successful in lifting pricing at a faster rate than the broader industry.
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