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Fly News Breaks for April 16, 2015
SNDK
Apr 16, 2015 | 06:57 EDT
Piper Jaffray believes SanDisk's reduced outlook for FY15 likely limits downside in the stock, but the firm admits upside in shares over the next six months is likely to be limited pending clarity that a recovery in the second half is on track. Piper thinks Q2 will represent a trough with recovery beginning in Q3. It lowered its price target for the stock to $74 from $82 but keeps an Overweight rating on SanDisk following the company's Q1 results.
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