Standpoint Research Upgrades Western Digital Corp. (WDC) to Buy
Tweet Send to a FriendGet Alerts WDC Hot Sheet
Price: $60.46 +2.39%
Rating Summary:
8 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
8 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade WDC Now!
Standpoint Research upgraded Western Digital Corp. (NYSE: WDC) from Hold to Buy with a $42 price target.
The firm states, "Western Digital is a name we have gone in-and-out of twice since 2009. We closed out the position with a 50% gain on April 29, 2009, and then closed it out a second time on March 30, 2011 with a 34% gain. This high-beta stock pulled back during the recent market correction and can be reinstated. There was good news from Hutchinson Tech yesterday that boosted the names in this industry. Our 2012-2013 price target for WDC is <11X $4.00 in earnings potential and <10X peak earnings from 2007-2008."
For more ratings news on Western Digital Corp. click here and for the rating history of Western Digital Corp. click here.
Shares of Western Digital Corp. closed at $35.36 yesterday, with a 52 week range of $23.06-$41.87.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The firm states, "Western Digital is a name we have gone in-and-out of twice since 2009. We closed out the position with a 50% gain on April 29, 2009, and then closed it out a second time on March 30, 2011 with a 34% gain. This high-beta stock pulled back during the recent market correction and can be reinstated. There was good news from Hutchinson Tech yesterday that boosted the names in this industry. Our 2012-2013 price target for WDC is <11X $4.00 in earnings potential and <10X peak earnings from 2007-2008."
For more ratings news on Western Digital Corp. click here and for the rating history of Western Digital Corp. click here.
Shares of Western Digital Corp. closed at $35.36 yesterday, with a 52 week range of $23.06-$41.87.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Western Digital® Board Declares Dividend For June Quarter
- Wells Fargo Upgrades Rosetta Resources (ROSE) to Outperform, Shares Attractive
- Western Digital (WDC) Declares $0.25 Quarterly Dividend; 1.7% Yield
Create E-mail Alert Related Categories
UpgradesRelated Entities
Standpoint Research, Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
