Deutsche Bank analyst Ross Seymore weighed in today with a few key thoughts on SanDisk (NASDAQ:SNDK), ahead of the company’s fourth-quarter results, which will be released after the close of market tomorrow. The analyst rates the stock a Buy with a price target of $100, which implies an upside of 28% from current levels.

Seymore noted, “4Q should be in line with preannouncement, but questions remain. Last week, SNDK lowered its 4Q revenue forecast from $1.80-1.85bn to $1.73bn, citing weaker than expected sales in retail and iNAND products. Gross margin was lowered to ~45% from the previous guidance of 47-49%, implying that the revenue miss was mostly ASP-driven. The mid-pt of guidance suggests EPS of $1.20-1.25 (vs. DBe of $1.21 and consensus of $1.24). What remain to be answered are: (1) how much of the miss was driven by pricing pressure vs. unit shortfall, (2) was the iNAND weakness driven by smartphone and/or tablet overbuild, or a shift of demand to MCP products, and (3) what was the impact of currency on sales, especially in emerging markets.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Ross Seymore has a total average return of 29.4% and a 77.8% success rate. Seymore has a -7.7% average return when recommending SNDK, and is ranked #28 out of 3428 analysts.