Noting that Western Digital has risen 70% over the past three months, Benchmark analyst Mark Miller said he believes the shares are fully pricing in improvements expected into FY21 and also discounting risks associated with the outlook. The analyst, who attributes the move higher to recent stabilization of NAND prices and inventory drawdowns, thinks the potential risks exceed the possible gains and he reiterates a Sell rating on Western Digital, though he increased his price target on the stock to $46 from $40.
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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