NEW YORK (TheStreet) -- Shares of SanDisk Corp. (SNDK) are up 1.04% to $98.15 in pre-market trading this morning following a ratings upgrade to "buy" from "underperform" at Bank of Americ/Merrill Lynch. (BAC)
The firm said it upgraded its rating on the company, which designs, develops, and manufactures data storage solutions, based on SanDisk's strong earnings momentum.
Bank of America/Merrill Lynch raised its price target on SanDisk to $125 from $80.
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Separately, TheStreet Ratings team rates SANDISK CORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate SANDISK CORP (SNDK) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow."