Two Wall Street Analysts Just Set Price Targets on Sandisk $1,430 Apart. One of Them Is Going to Be Very Wrong.
Yahoo Finance ·
Wall Street can usually agree on a stock to within a few percentage points. On memory maker Sandisk ( SNDK -10.87% ) , it can't come within $1,430 -- at least that is the case for two analysts. This week, Susquehanna trimmed its price target on the stock to $3,050 from a prior $3,250 and kept its positive rating. Wells Fargo went the other way, raising its target to $1,620 from $1,250 -- and still declined to recommend buying the shares. With the stock around $1,600 as of this writing, one firm is saying Sandisk could nearly double within a year. The other is saying today's price is already just about right. They can't both be right, and the gap between them maps the entire debate over arguably the hottest stock of the past year. That heat is worth restating. Sandisk's 52-week range runs from $40.10 to $2,354.39. At its peak, the stock had traded as much as 58 times higher than its low. Nothing about a move like that is normal, and neither is the disagreement it left behind.
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