Western Digital (WDC), Seagate (STX) Price Targets Raised at Needham & Company

July 11, 2013 3:06 PM EDT Send to a Friend
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Price: $98.52 -1.06%

Rating Summary:
    18 Buy, 8 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 24 | New: 21
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Needham & Company raised its price target on Strong-Buy rated Western Digital Corp. (NASDAQ: WDC) from $56 to $77 and on Buy-rated Seagate Technology (NASDAQ: STX) from $45 to $51.

On Western Digital, analyst Richard Kugele said, "Despite solid gains for WDC so far this year, we see a further leg higher driven by a mixture of modestly higher unit volume, areal density transition savings, benign pricing and a resumption of aggressive stock buybacks."

On Seagate, Kugele said, "Despite solid gains for STX so far this year, we see further upside potential driven by a mixture of modestly higher unit volume, areal density transition savings, benign pricing and a resumption of aggressive stock buybacks."

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 $67.23 yesterday.




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