Why Sandisk Stock Topped the Market Today

Thanks largely to a glowing analyst update on a longtime computer storage industry peer, Sandisk (NASDAQ: SNDK) stock had quite a fine trading session on Monday. The sympathy rally saw Sandisk's equity rise by more than 3%, on a day when the S&P 500 index could only muster a 0.4% advancement.That Sandisk industry-mate is Seagate, which was the subject of a significant price target increase from white-shoe investment bank Morgan Stanley that morning. Analyst Erik Woodring raised his fair value estimate for Seagate by a meaty 24% to $582 per share. He also crowned the company as his bank's top pick in the IT hardware segment. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool