Brean Capital analyst Ananda Baruah sees 80% appreciation for shares of Seagate (STX) and 145% appreciation for shares of Western Digital (WDC). The hard disk drive makers are particularly attractive at current levels, Baruah tells investors in a research note. The combined Western Digital, SanDisk (SNDK) company, post the merger close in September 2016, can generate FY17 earnings per share of $13.00 - $15.00, the analyst contends. He keeps a $150 standalone Western Digital target price and believes that the combined company's shares should trade in a range of $154-$256 post close. Western Digital ended Thursday's trading session up 90c to $61.22. For Seagate, Baruah believes the company has "many levers to achieve" normalized earnings per share of at least $5.00. He has a $65 price target on the stock that closed Thursday at $36.65.

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Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSAudioEye (AEYE) up... To see the rest of the story go to thefly.com. See Story Here

Sees Q4 revenue $1.7B-$2.0B, consensus $1.85B

Reports Q3 revenue $1.66B, consensus $1.68B. "Seagate's March quarter revenue grew 6% and non-GAAP EPS more than doubled over the December quarter as we benefit from improving cloud demand, our strong operating discipline and price execution. This combination sets the foundation for a return to target margin performance as the markets recover," said Dave Mosley, CEO. "This constructive demand backdrop is well-timed as we prepare to ramp our Mozaic products, anchored by industry-leading HAMR technology. HAMR-based products offer compelling economic value for our customers and position Seagate to drive further financial performance gains, as well as capitalize on favorable long-term demand for mass capacity storage."

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

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