SanDisk Corporation (SNDK) Stock Loses Another Bull As Citigroup Drops Buy Rating

April 19, 2015 12:39 PM

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Citigroup has downgraded SanDisk Corporation shares to Neutral from Buy due to the company’s disappointing 1QFY15 results. Bidness Etc looks at the reasons underlying poor results and at SanDisk’s future outlook

Citigroup, in an updated research note sent out to clients and investors, downgraded SanDisk Corporation (NASDAQ:SNDK) stock to Neutral from Buy, while slashing the price objective to $70 from $78. Analysts at the investment bank made these revisions because of the chip-maker's poor financial result...

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