Sterne Agee Upgrades SanDisk (SNDK), Downgrades Intel (INTC) to Neutral

Sterne Agee's Vijay Rakesh made an interesting call in the Tech sector Friday morning, upgrading shares of SanDisk (Nasdaq: SNDK) while at the same time downgrading shares of Intel (Nasdaq: INTC).

The analyst now rates SanDisk a Buy, up from Neutral previously, and Intel a Neutral, down from a prior Buy rating. Rakesh's price target on SanDisk was lifted from $55 to $57; his target on Intel moves from $27 to $26.

Ahead of the opening bell Friday, shares of SanDisk are up 1.9 percent to $50.04 and shares of Intel are down 0.55 percent to $25.26.

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