NEW YORK (TheStreet) -- Seagate Technology (STX) and Western Digital (WDC) shares are "going to fly" in the wake of a Goldman Sachs upgrade of Western Digital, said TheStreet's Jim Cramer on CNBC's "Mad Dash" segment on Thursday.
"These stocks are going to fly," said Cramer, who manages the Action Alerts PLUS portfolio. "One, because they're heavily shorted, cause people say PCs are going away, and this is the disk drives that go into PCs. But secondly, Goldman is saying they're too cheap. They could be leveraged buyouts."
Cramer made his comments before the opening bell on Thursday.
At midmorning Thursday, shares of Western Digital were up $4.76, or 5%, at $99.13. Shares of Seagate had gained 58 cents, or 1%, to trade at $55.92.
Disk-drive makers have become a "forlorn group," Cramer said.
"Those of us old enough remember there used to be multiple players," he said. "They've all merged. And then [PC sales], we know, have slowed down."11 Safe High-Yield Dividend Stocks for Times of Volatility and Uncertainty