Standpoint Research Upgrades Western Digital Corp. (WDC) to Buy
Get Alerts WDC Hot Sheet
Price: $69.92 --0%
Rating Summary:
32 Buy, 17 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 13
Rating Summary:
32 Buy, 17 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 13
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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.
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.
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