UPDATE: Summit Insights Upgrades Western Digital Corp. (WDC) to Buy, Sees Storage Fundamentals Continuing to Improve Through 2021

January 29, 2021 6:40 AM EST
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Price: $66.26 --0%

Rating Summary:
    30 Buy, 14 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 9 | Down: 6 | New: 70
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(Updated - January 29, 2021 6:55 AM EST)

Summit Insights upgraded Western Digital Corp. (NASDAQ: WDC) from Hold to Buy.

The analyst comments: "We have seen a stabilization in NAND pricing and expect datacenter HDD and SSD demand to improve through 2021. We believe WDC's gross margin has bottomed and expect it to expand in the coming quarters as we expect its' flash cost reduction to outpace price declines. Additionally, we see an improving demand landscape for its higher-margin large capacity HDD and SSD in the coming quarters. We are upgrading WDC to a BUY as we see a favorable risk-reward for the stock as the storage industry fundamentals improve through the year."

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 $58.01 yesterday.

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