Auriga Maintains a 'Buy' on Western Digital Corp. (WDC); Bumping Up Forward Estimates and PT

Auriga maintains a 'Buy' on Western Digital Corp. (NYSE: WDC), PT from $51 to $52.

Auriga analyst says, "With modestly higher ASP now expected, we raise our F1Q12 (Sept) revenue estimate to $2.48Bn from $2.46Bn (Street at $2.44Bn), and with higher gross margin now assumed we raise our F1Q12 (Sept) pro-forma EPS estimate to $1.01 from $0.91 (Street at $0.96 on apples/apples basis). We also raise our F2Q12 (Dec) pro-forma EPS estimate to $1.14 from 0.98, but note this is still below the comparable Street consensus of $1.22. We believe both unit share shifts and the ability to shift to new component technology will be key variables that could move our estimates higher, but for now we are more comfortable remaining below consensus for the December quarter."

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 $37.06 yesterday.

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