Citi analyst Stanley Kovler started Seagate (STX) with a Sell rating and $23 price target. The analyst believes Seagate will have little choice but to attempt a transformative acquisition, which he notes would limit further buybacks. Kovler sees risk to FY16 consensus estimates and downside risk to the stock. He also initiated this morning shares of Western Digital (WDC) and SanDisk (SNDK) with Buy ratings.
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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