Brean Murray Carret Raises Price Target on Western Digital (WDC) as Hitachi Acquisition Nears Completion
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Price: $459.44 -2.05%
Rating Summary:
33 Buy, 17 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
33 Buy, 17 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Brean Murray Carret & Co. is reaffirming its Buy rating on shares of Western Digital Corp. (NYSE: WDC) and is lifting its price target from $42 to $45 following news that the company sold Toshiba a solid portion of Hitachi's 3.5 inch drive business.
The firm notes this allows for a final regulatory approval and the closure of the Hitachi Drive business acquisition. A Japanese newspaper stated roughly 25 thousand units were sold, although no real figures were released by either company. Brean Murray Carret anticipates the units were most likely desktop PC and Consumer electronic drives.
The firm forecasts the Hitachi acquisition may be closed as soon as the end of March.
The company also recently announced it entered an agreement to acquire Thailand based Toshiba Storage Device. WDC will integrate the company into its current operations.
Following the completion of the two recent acquisitions, Brean Murray Carret forecasts CY12 EPS could be $9.00-$10.50. As a standalone, the company's EPS would fall between $6-$7.
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 $39.38 yesterday.
The firm notes this allows for a final regulatory approval and the closure of the Hitachi Drive business acquisition. A Japanese newspaper stated roughly 25 thousand units were sold, although no real figures were released by either company. Brean Murray Carret anticipates the units were most likely desktop PC and Consumer electronic drives.
The firm forecasts the Hitachi acquisition may be closed as soon as the end of March.
The company also recently announced it entered an agreement to acquire Thailand based Toshiba Storage Device. WDC will integrate the company into its current operations.
Following the completion of the two recent acquisitions, Brean Murray Carret forecasts CY12 EPS could be $9.00-$10.50. As a standalone, the company's EPS would fall between $6-$7.
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 $39.38 yesterday.
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