SanDisk says expects to be 'somewhat supply constrained' in 2H14 SanDisk (SNDK) is still targeting returning 100% of free cash flow to shareholders. Sees the Fusion- io (FIO) deal closing in Q3. Expects initial synergies to be modest, however sees 2H15 Fusion-io to be accretive to earnings. Sees the strongest growth in Q3 from embedded products. Sees FY14 cash CapEx approximately $600M. Comments from Q2 earnings conference call.
SanDisk upgraded to Buy from Neutral at Goldman Goldman Sachs upgraded SanDisk to Buy saying the weakening in the yen will likely be a positive for margins in 2015. Goldman raised its price target for shares to $106 from $87.