Needham & Company Maintains a 'Strong Buy' on Western Digital (WDC); Conference Call Complicates, But Doesn't Take From Strong Quarter
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Price: $68.46 +1.21%
Rating Summary:
32 Buy, 17 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
Rating Summary:
32 Buy, 17 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Needham & Company maintains a 'Strong Buy' on Western Digital Corp. (NYSE: WDC) price target lowered from $66 to $61.
Analyst, Richard Kugele, said, "Despite a conference call that complicated an impressive F3Q report and F4Q guide, we believe industry fundamentals remain robust. We expect strong earnings momentum for WDC and Seagate (NYSE: STX), and would use weakness in both names over the summer doldrums to build/add to positions."
Needham raises FY12 from $6.58 to $7.65 and cuts FY13 from $11.00 to $10.09.
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 $44.10 yesterday.
Analyst, Richard Kugele, said, "Despite a conference call that complicated an impressive F3Q report and F4Q guide, we believe industry fundamentals remain robust. We expect strong earnings momentum for WDC and Seagate (NYSE: STX), and would use weakness in both names over the summer doldrums to build/add to positions."
Needham raises FY12 from $6.58 to $7.65 and cuts FY13 from $11.00 to $10.09.
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 $44.10 yesterday.
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