Needham & Company Reiterates a 'Strong Buy' on Western Digital (WDC); Crisp Execution Once Again

Needham & Company reiterates a 'Strong Buy' on Western Digital Corp. (NYSE: WDC) price target of $45.

Needham analyst says, "Despite global consumer headwinds, rising commodity pricing, component supply disruptions and a massive pending acquisition, Western Digital continued to execute in F4Q, posting strong results above guidance and consensus. Looking forward, the HDD industry is pacing itself before heading into 2012 and what we believe could be the greatest stretch of profitability in the history of the space...Consequently, our F1Q estimate is nearly unchanged at $2.5B and $0.97 vs. $2.48B and $0.97. F12 becomes $10.2B and $4.19 vs. our prior $10.2B and $4.52. F13 estimates are adjusted to $11B and $4.70 vs. our prior $11.2B and $5.11."

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 $35.13 yesterday.

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