10 Stocks Lead Monday’s Charge Amid Market Bloodbath

8. Sandisk Corp. (NASDAQ:SNDK)

Sandisk rallied by 7.39 percent on Monday to end at $50.31 apiece as investor sentiment was buoyed by its upgraded rating from an investment bank.

Morgan Stanley on Monday announced that it initiated coverage on SNDK and gave the company a price target of $84 and an overweight rating.

The price target represented a 67-percent premium on SNDK’s latest stock price.

According to Morgan Stanley analyst Joseph Moore, it sees the first semester of the year as tough for SNDK’s NAND storage technology, but a 90-percent upside for the shares in twelve months as cyclical drivers reverse for an “underappreciated”  NAND franchise.

Despite uncertainties, Moore said that SNDK offers one of the best risk/rewards in its industry.