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Cowen Starts QI, SNDK At Underperform; Neutral On MU

Posted on June 24, 2008

Daniel Berenbaum, the former chip analyst at Caris & Co., has moved over to Cowen, where today he launched coverage of Qimonda (QI) and SanDisk (SNDK) with Underperform ratings, while starting Micron (MU) at Neutral.Here s a brief summary of his initial reports on the three companies:Micron: Even though MU has underperformed the SOX over the past year, we do not expect fundamentals to support a sustained upward move near term, he writes. At the same time, the memory market is not structurally broken, and there are some potentially positive catalysts on the horizon - it is equally to...

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analyst , highs , underperform