SanDisk's share rose 44% over the last week.
The share of SanDisk Corporation (Nasdaq:SNDK) jumped 11.1% on Friday to $11.05, giving a market cap of $2.5 billion, on new buyout rumors. The trading volume was nearly triple the daily average. The share rose 44% last week. South Korea's Samsung Electronics Co. Ltd. (KSX: 5930) and Japan's Toshiba Ltd. (TSE: 6502; LSE: TOS; XETRA, AEX, Paris: TSBA) have reportedly resumed talks to acquire the NAND flash memory maker, after negotiations broke down last year.
Last Wednesday, Lazard Capital Markets analyst Daniel Amir upgraded SanDisk to "Buy" from "Hold" because it is starting to raise prices on its flash memory cards. He also raised his target price for the company to $12.
Published by Globes [online], Israel business news - www.globes-online.com - on March 15, 2009
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