Western Digital (WDC): PT $80 But Analyst Sees Upside To $100 - RBC
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Rating Summary:
32 Buy, 17 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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RBC Capital analyst, Amit Daryanani, reiterated his Outperform rating on shares of Western Digital Corp. (NASDAQ: WDC) and raised price target to $80 from $72 to account for the new Samsung licensing agreement and his belief that the NAND/HDD market remains strong which should provide a tailwind for WDC.
The analyst thinks that WDC's top-line guide is likely conservative and Samsung IP-centric which should provide tailwinds that benefit HDDs and NAND going forward. The analyst stated this creates "a goldilocks scenario that should sustain through H1:17 and beyond with an upside case for WDC's stock at $100".
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 $67.95 yesterday.
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