Citi analyst Stanley Kovler still assigns a 90% probability of Western Digital's (WDC) acquisition of SanDisk (SNDK) obtaining the necessary regulatory and shareholder approvals. The analyst finds it "highly unlikely" that the merger agreement will be renegotiated following the termination of Unisplendour's planned $3.8B investment in Western Digital. To reflect the updated deal structure, Kovler lowered his price target for SanDisk to $76.60 from $82. He keeps a Buy rating on the shares.
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Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here