Brean Murray Carret & Co. Maintains a 'Buy' on Western Digital (WDC); One Company's Trash Is Another Company's Treasure
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Price: $64.67 +0.03%
Rating Summary:
8 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
8 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade WDC Now!
Brean Murray Carret & Co. maintains a 'Buy' on Western Digital Corp. (NASDAQ: WDC) price target of $50.00.
Analyst, Ananda Baruah, said, "While Buy-rated WDC could ultimately pre-announce from perhaps seeing their channel ASPs be a bit more aggressive during the Qtr than anticipated, we believe they're in a position to come much closer to delivering on guidance (our checks indicate WDC channel ASPs have declined ~20% from the beginning of the Qtr, at the high-end of what we'd expected). We believe WDC could ship 65M drives for the June Qtr (vs. our expectations of 66M). Additionally, we believe they actually gained the 1.2M units of enterprise business that Seagate (NYSE: STX) lost - and therefore will enjoy both the ASP and GM blend mix up."
For an analyst ratings summary and ratings history on Western Digital Corp. click here. For more ratings news on Western Digital Corp. click here.
Shares of Western Digital Corp. closed at $30.68 yesterday, with a 52 week range of $22.64-$44.44.
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Analyst, Ananda Baruah, said, "While Buy-rated WDC could ultimately pre-announce from perhaps seeing their channel ASPs be a bit more aggressive during the Qtr than anticipated, we believe they're in a position to come much closer to delivering on guidance (our checks indicate WDC channel ASPs have declined ~20% from the beginning of the Qtr, at the high-end of what we'd expected). We believe WDC could ship 65M drives for the June Qtr (vs. our expectations of 66M). Additionally, we believe they actually gained the 1.2M units of enterprise business that Seagate (NYSE: STX) lost - and therefore will enjoy both the ASP and GM blend mix up."
For an analyst ratings summary and ratings history on Western Digital Corp. click here. For more ratings news on Western Digital Corp. click here.
Shares of Western Digital Corp. closed at $30.68 yesterday, with a 52 week range of $22.64-$44.44.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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