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Fly News Breaks for July 3, 2019
WDC
Jul 3, 2019 | 08:21 EDT
Longbow analyst Nikolay Todorov noted that InSpectrum reported that Q2 NAND contract prices declined 12% quarter-over-quarter, in-line with the forecast for a low double-digit decline in his survey done in early June. However, given recent NAND supply reductions, he has raised his NAND price forecasts for the second half of the calendar year and consequently raised his estimates for Western Digital. Given the higher estimates, Todorov increased his price target on Western Digital shares to $55 from $49 and keeps a Buy rating on the stock.
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