Western Digital (WDC) PT Raised to $80 at Jefferies

Jefferies analyst James Kisner raised estimates and his price target on Buy-rated Western Digital Corp. (NASDAQ: WDC) to $80.00 (from $75.00) following the company's upbeat analyst day.

Kisner commented, "WDC held its first Analyst day in 4 years (the same interval as the Olympics). The long-term financial model and growth expectations were a bit better than we expected. WDC also positively pre-announced Q2 and announced it was shipping 64-Layer 3D NAND commercially. We felt somewhat more confident in the story but reserve some caution that WDC may eventually wake the sleeping giant that is Samsung in the NAND market."

The firm raised Q2 EPS from $1.90 to $2.11 and FY 2017 EPS from $6.64 to $7.31.

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 $63.85 yesterday.

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