UBS upgraded Western Digital Corp. (NASDAQ: WDC) from Sell to Neutral with a price target of $75.00 (from $67.00) following the deal to acquire SanDisk.

Analyst John Roy commented, "WDC's planned purchase of SanDisk would seem to have potential US regulatory and Toshiba hurdles under control. If the US regulators have an issue with the Chinese investment, which the company is not expecting, then WDC could terminate the agreement and still acquire SanDisk but with more stock. WDC said Toshiba has been consulted and is supportive of the deal. Investors still need to approve; note the $86.50 offer price is 76% above the September 29 low of $49.09."

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 $71.44 yesterday.

Analyst Comments Analyst PT Change Upgrades

BMO Believes the Western Digiatl (WDC)/SanDisk (SNDK) Deal is Too ExpensiveOctober 22, 2015 7:48 AM Western Digital (WDC) Has Proven M&A Track Record; Baird Maintains at 'Outperform' Amid SanDisk DealOctober 21, 2015 2:35 PM Western Digital's (WDC) Price Target Trimmed at FBNOctober 21, 2015 11:20 AM Western Digital to buy SanDisk in $19 billion dealOctober 21, 2015 7:37 AM Western Digital (WDC) to Acquire SanDisk (SNDK) in $19B DealOctober 21, 2015 7:31 AM