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TOSBF

Toshiba, also use TOSYY

$3.02

0.016 (0.53%)

, TOSYY

Toshiba, also use TOSBF

$18.03

0.02 (0.11%)

07:12
09/14/17
09/14
07:12
09/14/17
07:12

Toshiba says Western Digital overstates its rights on chip unit, Reuters reports

Toshiba (TOSBF, TOSYY) said joint venture partner Western Digital (WDC) has overstated its rights by claiming its consent is required for the Japanese conglomerate's $18B chip unit sale, Reuters reports, citing the company. Toshiba has advanced talks to sell the unit to a group led by Bain Capital but also plans to continue to review a rival bid by Western Digital. Reference Link

TOSBF

Toshiba, also use TOSYY

$3.02

0.016 (0.53%)

TOSYY

Toshiba, also use TOSBF

$18.03

0.02 (0.11%)

WDC

Western Digital

$85.74

-3.04 (-3.42%)

TOSBF Toshiba, also use TOSYY
$3.02

0.016 (0.53%)

09/13/17
SBSH
09/13/17
NO CHANGE
Target $110
SBSH
Buy
Citi still sees Western Digital participating in Toshiba joint venture
Citi analyst Stanley Kovler says he continues to believe Western Digital (WDC) will be able to participate in the joint venture with Toshiba (TOSYY, TOSBF) and source NAND much like it has in the past, even after Toshiba signed a memorandum of understanding with the Bain Capital consortium for the sale of its memory business. If Western Digital takes a more commercial approach to resolution versus a legal route, the analyst sees a path to work with Bain and co-invest in Fab6. Kovler keeps a Buy rating on Western Digital with a $110 price target.
09/12/17
RBCM
09/12/17
NO CHANGE
RBCM
Western Digital likely to hold minority stake in Toshiba, says RBC Capital
After Japanese newspaper Nikkan reported that a consortium which includes Western Digital (WDC) would buy Toshiba's (TOSBF) memory assets, RBC Capital analyst Amit Daryanani says that Western Digital will likely hold a minority stake in the assets, given anti-trust concerns. The analyst estimates that a 12%-13% stake would boost Western Digital's EPS by 25c-30c in 2018. Daryanani believes that the deal will be positive for the company as it will enable it to secure NAND bit capacity, prevent Foxconn/SK Hynix from getting the asset, and could boost its profits. He keeps a $115 price target and an Outperform rating on the stock.
08/23/17
COWN
08/23/17
NO CHANGE
Target $117
COWN
Outperform
Western Digital deal with Toshiba would eliminate overhang, says Cowen
Cowen analyst Karl Ackerman said a deal between Western Digital (WDC) and Toshiba (TOSBF) could be voted on by the end of August, which would remove an overhang on Western Digital shares. The analyst sees a deal being accretive through calendar year 2019 and also believes it would eliminate risks surrounding IP leakage and NAND technology leadership. Ackerman reiterated his Outperform rating and $117 price target on Western Digital shares.
08/14/17
SBSH
08/14/17
UPGRADE
SBSH
Buy
Toshiba upgraded to Buy from Neutral at Citi
Citi analyst Kota Ezawa upgraded Toshiba to Buy saying the company's August 10 briefing indicated that there is reduced risk of additional WEC losses and the NAND business is generating "remarkably high profit." The probability of Toshiba rebuilding and remaining a going concern has increased significantly, the analyst tells investors in a research note. Ezawa now puts the possibility of Toshiba, delisting at less than 30%. The analyst has 430 yen price target for the shares.
TOSYY Toshiba, also use TOSBF
$18.03

0.02 (0.11%)

06/27/17
BTIG
06/27/17
NO CHANGE
BTIG
Western Digital fundamentals still 'quite strong,' says BTIG
BTIG analyst Edward Parker says that Western Digital's (WDC) "strong preliminary results" indicate that its "fundamentals remain quite strong." The analyst says he doesn't believe that Toshiba (TOSBF, TOSYY) can sell its share in the chip joint venture while Western Digital is seeking injunctive relief. He adds that the intensity of the battle over the joint venture shows that there is widespread optimism about the memory sector. He keeps a $120 price target and a Buy rating on Western Digital.
WDC Western Digital
$85.74

-3.04 (-3.42%)

09/13/17
LBOW
09/13/17
NO CHANGE
Target $120
LBOW
Buy
iPhone 64GB starting point a 'pleasant surprise' for NAND makers, says Longbow
Longbow analyst Joe Wittine said many had expected a 32GB starting point for the memory in the new iPhones, consistent with the 7/7+, calling the new 64GB starting point for the iPhone 8/8+ a "pleasant surprise" for companies in the NAND supply chain. Rising NAND consumption could help smooth the eventual downside of the cycle for Western Digital, helping it maintain greater than 40% gross margins for longer, added the analyst. Wittine keeps a Buy rating and $120 price target on Western Digital shares.
09/11/17
JEFF
09/11/17
DOWNGRADE
JEFF
Hold
Seagate downgraded to Hold from Buy at Jefferies
Jefferies analyst James Kisner downgraded Seagate Technology (STX) to Hold after his channel checks indicated the company may still be struggling with the ramp of its 10TB helium drives. The analyst is also hearing about about potential increased price competition in nearline. He cut his price target for Seagate shares to $29 from $40. Kisner maintains a Hold rating on Seagate peer Western Digital (WDC).

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