|
|
|
|
|
|
|
News Center Company News
SanDisk shares rise after Goldman 'Buy' rating
  

NEW YORK (Associated Press) - Shares of SanDisk Corp., the memory chip maker, rose Monday after a Goldman Sachs analyst gave the stock a "Buy" rating.

Goldman had not previously rated the stock, but in a note to clients, analyst James Covello called SanDisk shares "now too attractive to ignore."

Covello noted that the company's stock has been battered recently after Samsung Electronics Co., the South Korean electronics giant, pulled a $5.85 billion bid to purchase the company.

SanDisk has also been hurt by falling prices for NAND memory chips, a type of flash memory the company makes for consumer gadgets like music players and digital cameras.

But Covello said key intellectual property rights associated with the chips give the SanDisk more value than the market has recognized.

Shares of SanDisk are down significantly from a 52-week high of $45.49 and have lost about 73 percent of their value since the beginning of the year.

Covello has a 12-month price target of $13 on the shares.

On Monday, shares rose 34 cents, or 3.8 percent, to close at $9.23.

release time :11/4/2008
Solar Energy International Co., Ltd
Tel:852 2353 6225 Fax: 852 2353 6731 Email : info@solarenergy.com.hk URL: http://www.solarenergy.com.hk