UPDATE: Jefferies Starts Western Digital Corp. (WDC) at Buy

(Updated - October 10, 2014 6:59 AM EDT)

Jefferies initiated coverage on Western Digital Corp. (NASDAQ: WDC) with a Buy rating and a price target of $124.00.

Analyst James Kisner comments, "WDC is our Top Pick in the IT Hardware space as we believe the company will benefit from: 1) robust storage growth in public and private clouds and potential share gain from their Helium-based drives; 2) acquisitions that have seeded growth opportunities in flash-based storage; 3) improving fundamentals in the PC industry; 4) an embedded “call option” on regulatory approval from China for WDC to finally integrate their subsidiary HGST that could be 15% accretive to CY15 EPS."

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 $95.66 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Loop Capital Starts DoorDash Inc. (DASH) at Buy, 'Category Killer with Stellar Execution'
• Piper Sandler Downgrades Magnolia Oil & Gas Corp. (MGY) to Neutral
• TD Cowen Resumes EQT Corp. (EQT) at Hold