Western Digital (WDC): Positive Read Through From Toshiba Raising Guidance - Mizuho

September 28, 2016 6:13 AM EDT
Get Alerts WDC Hot Sheet
Price: $53.07 -1.47%

Rating Summary:
    25 Buy, 9 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Mizuho Securities analyst Vijay Rakesh, reiterated his Buy rating on shares of Western Digital Corp. (NASDAQ: WDC) after Toshiba raised guidance.

Toshiba cited 1) firmer price levels than its earlier forecast, with growing demand for use in smartphones; 2) firmer pricing in HDD with better demand from PC and game console applications; and 3) a depreciating yen. This is a positive for WDC as well although the company raised guidance as well earlier in the month.

Toshiba is now expecting a modest pre-tax profit versus the prior expectation for break-even for the six month period ending September.

No change to the price target of $60.

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 $58.86 yesterday.

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