Jefferies Initiates Coverage of SanDisk (SNDK) with a "Buy" Rating and a $60 Price Target

Sandisk Corporation (NASDAQ:SNDK) is one of the 15 successful spin-off companies. On July 7, analysts at Jefferies initiated coverage of the stock with a Buy rating and a $60 price target.

Jefferies’ Buy rating affirms confidence that SanDisk is well-positioned to generate significant shareholder value following its spin-off from Western Digital early in the year. The research firm expects the company’s updated technology roadmap to drive market share gains in the solid-state drive (SSDSSD) market.

The research firm is forecasting revision of current estimates on improvements in content and unit trends despite tariff pressure. Consequently, Jefferies expects SanDisk to benefit from high single-digit percentage price increases in the second half of the year. The price improvements are expected to yield low to mid-teens growth.

Sandisk Corporation (NASDAQ:SNDK) is involved in designing, developing, and manufacturing flash memory storage solutions and software. Its products include memory cards, USB flash drives, and solid-state drives (SSDs).

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Disclosure: None. This article is originally published at Insider Monkey.