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SanDisk Rallies; Goldman Calls It Too Cheap to Ignore

in News on November 3, 2008 at 11:55 am PT

SanDisk’ s stock is “too attractive to ignore,” says Goldman Sachs chip analyst James Covello. Since Samsung pulled its $26-a-share takeover, Covello estimates that the company’s IP is worth $6-$7 a share–which is still a compelling valuation, even with an overall bearish outlook. No surprise, then, that shares have gotten a boost today.