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Fly News Breaks for April 16, 2015
SNDK
Apr 16, 2015 | 06:19 EDT
Credit Suisse downgraded SanDisk to Neutral and lowered its price target to $65 from $75 following weak results and guidance. The firm said SanDisk has multiple issues that need to be address that include a slowing high margin retail business, an optimistic Enterprise strategy, 3D NAND migration cost structure, and licensing revenue renegotiation in August 2016.
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