Needham & Company Upgrades Western Digital Corp. (WDC) to Buy; Posts Solid F2Q Results As Higher ASPs Offset Production Fallout From Floods

Needham & Company upgraded Western Digital Corp. (NYSE: WDC) from Hold to Buy with a price target of $41.00.

Needham analyst says, "WD’s employees and management have executed admirably through the tragic human and economic disaster in Thailand. While all is not over, we are upgrading WD to Buy from Hold as a majority of the concerns leading to our November downgrade have been alleviated (mainly the profitability/cash burn of the company post-flood)."

Needham raises FY12 EPS estimate from $4.48 to $6.13 and FY13 from $6.95 to $8.78.

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 $34.71 yesterday.

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