Goldman Sachs Resumes Coverage on Western Digital Corp. (WDC) at Neutral

Goldman Sachs reinstated coverage on Western Digital Corp. (NYSE: WDC) with a Neutral rating and $37 price target following the close of the $4.8 billion acquisition
of Hitachi Global Storage Technologies (HGST).

The firm said due to the Thailand flooding and intervention from regulatory authorities, the resulting industry market shares tilts more heavily in favor of Seagate (NYSE: STX) for the time being. Also, Western Digital and HGST will operate as independent subsidiaries, reducing the benefits of scale.

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 $40.15 yesterday.

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