Standpoint Research Maintains a 'Buy' on Western Digital (WDC); Raising PT to $48

Standpoint Research maintains a 'Buy' on Western Digital Corp. (NYSE: WDC) price target raised from $42 to $48.

Analyst, Ronnie Moas, said, "I expect WDC to take out an all-time high, and run past that all-time high in the next few quarters...There has been quite a bit of good news coming from WDC recently and estimates for 2012 and 2013 are rising...The Q4 results and guidance from 24-January were excellent...This stock does not usually get a high multiple on earnings and there are reasons for this detailed in the attached report. That being said, 6.5X $6 in EPS potential for next year is too low and I am looking for 8X in the next few months."

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 $38.30 yesterday.

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