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Fly News Breaks for December 18, 2017
SNDK, WDC
Dec 18, 2017 | 06:22 EDT
Loop Capital analyst Ananda Baruah keeps his Buy rating and $140 price target on Western Digital, noting that the stock price could reach as high as $210 if investors are prepared to pay 10-15-times EPS as NAND memory chip prices start to normalize in 2018. Baruah contends that the current 6-times forward earnings valuation is attractive, citing price trends of how both HDD businesses of Western Digital and SanDisk traded under similar circumstance in the past.
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