Western Digital (WDC) Numbers Lowered at Needham & Company But Top Rating Maintained
Get Alerts WDC Hot Sheet
Rating Summary:
32 Buy, 17 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 1
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Needham & Company analyst Richard Kugele lowered estimates and his price target on Western Digital Corp. (NASDAQ: WDC) to $101.00 (from $124.00) on weak June quarter PCs but maintained an Strong Buy rating on the over-correction in the shares.
Kugele commented, "By now, a softer PC mkt in June is known, but we believe estimates need to now reflect that dynamic. However, we believe any âshort the PC supply chainâ trade has largely run its course as estimates are now being corrected."
The firm now estimates $3.3B/$1.50 vs. their last $3.4B/$1.58 (guidance $3.3-3.4B/$1.50-1.60).
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 $79.82 yesterday.
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