Recent Investment Analysts’ Ratings Updates for Western Digital (WDC)
Western Digital (NYSE: WDC) received a number of price target changes and ratings updates during the last week:
- Western Digital was downgraded by analysts at Credit Agricole from an “outperform” rating to an “underperform” rating.
- Western Digital had its “buy” rating reaffirmed by analysts at – Brean Murray Carret.
- Western Digital ‘s EPS estimates were cut by analysts at JPMorgan Chase. They now have a “neutral” rating and a $38.00 price target on the stock.
- Western Digital had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $37.00 price target on the stock. Zacks‘ analyst wrote, “The company’s first quarter 2013 results exceeded our expectations on both top and bottom lines. The benefits achieved from higher ASPs due to tight supply of hard disk drives resulting from disruption caused by Thailand flood, are exhausting. This is due to normalization of supply/demand metrics. This has been reflected in the company’s second quarter guidance, which is sequentially weak. But management brought in some comfort with its commentary of cost reduction and efficient execution. We also believe that the Hitachi deal will strengthen its foothold in the data storage business. However, competition from bigger players like Seagate Technology plc, Fujitsu Ltd, Samsung and Toshiba pose considerable challenges.”
- Western Digital had its “strong-buy” rating reaffirmed by analysts at Needham & Company. They now have a $46.00 price target on the stock.
Western Digital traded down 1.95% on Wednesday, hitting $33.76. Western Digital has a 52-week low of $24.96 and a 52-week high of $45.94. The company has a market cap of $8.348 billion and a price-to-earnings ratio of 5.23.
Western Digital Corporation (WD) is a provider of solutions for the collection, storage, management, protection and use of digital content, including audio and video.