Jim Kelleher, Director of Research at Argus, initiated Sandisk at Hold. Read what he actually argued. He called the company well-positioned in nonvolatile memory, credited its leadership in NAND flash and high-capacity SSDs, and cited fiscal third-quarter revenue up 251% year over year with adjusted EPS of $23.41 against a year-ago loss of $0.30. His stated reason for the Hold is that the stock has already run, and he would rather wait for a pullback driven by something other than fundamentals before upgrading.
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