Western Digital (WDC) PT Raised to $70 at Baird
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Baird analyst Tristan Gerra reiterated an Outperform rating and raised his price target on Western Digital Corp. (NASDAQ: WDC) to $70.00 (from $65.00) following the company's raised outlook.
Gerra commented, "Western Digital raised its F1Q17 revenue, gross margin and EPS guidance this morning, citing improved product mix and pricing with the integration of SanDisk along with WD and HGST subsidiaries. We believe improved NAND supply/demand dynamics could last through end of 2017, driven by a new secular growth cycle (enterprise SSDs) while 3D transition could continue to impact supply next year."
Shares of Western Digital Corp. closed at $47.55 yesterday.
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