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Fly News Breaks for October 1, 2015
WDC
Oct 1, 2015 | 08:02 EDT
As noted earlier, Argus upgraded Western Digital to Buy from Hold. Argus upgraded Western Digital after China's Unisplendour Corp. agreed to buy a 15% stake in the company for $3.8B. The firm notes that Western Digital is facing weak HDD demand in the PC/client space, but it believes that the stock's decline has been overdone. The firm adds that Western Digital is "showing promising momentum in non-client markets, most notably enterprise HDDs and SSDs." Target $90.
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