Why Sandisk Stock Popped on Monday
Still clearly basking in the glow of an estimates-crushing earnings report issued last week, Sandisk (NASDAQ: SNDK) blew past many other stocks on the exchange Monday. Several analysts tracking the fortunes of the device memory specialist raised their price targets on its stock, sending it to a nearly 12% gain in the trading session.
Bernstein SocGen Group's Mark Newman got the party started well before market open, increasing his Sandisk fair value assessment by a strong 150%. Newman now feels that stock is worth $300 per share, up very much from his previous level of $120. Almost needless to mention, the analyst maintained his outperform (read: buy) recommendation on the shares.
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Source Fool.com
