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WDC

Western Digital

$94.44

1.64 (1.77%)

10:10
07/17/17
07/17
10:10
07/17/17
10:10

Western Digital calls active for a second day

Western Digital calls active for a second day. Shares off 16c to $94.28 and Jul 96 calls trade across the exchanges from 91c down to 78c per contract. 6.6K trade total against 9.8K open interest and the activity today likely closes some bullish positions opened Friday when buyers paid 88 and 90c per contract. These calls are now 2% OTM and expiring at the end of this week. Also Friday, a bullish play opened in Western Digital as 5.5K Oct 82.5 puts sold at $2.63 to buy 5.5K Oct 100 - 110 call spreads for $2.78.

WDC Western Digital
$94.44

1.64 (1.77%)

06/27/17
MSCO
06/27/17
NO CHANGE
MSCO
Morgan Stanley has increased confidence in $12 earnigns power
Morgan Stanley analyst Katy Huberty said Western Digital's updated guidance increases confidence in $12/share earnings power, despite Toshiba-related headlines. Huberty said June quarter upside was largely driven by NAND and 10TB Helium HDD results, indicating the company's portfolio advantages. Huberty rates Western Digital an Overweight with a $120 price target.
06/27/17
BTIG
06/27/17
NO CHANGE
BTIG
Western Digital fundamentals still 'quite strong,' says BTIG
BTIG analyst Edward Parker says that Western Digital's (WDC) "strong preliminary results" indicate that its "fundamentals remain quite strong." The analyst says he doesn't believe that Toshiba (TOSBF, TOSYY) can sell its share in the chip joint venture while Western Digital is seeking injunctive relief. He adds that the intensity of the battle over the joint venture shows that there is widespread optimism about the memory sector. He keeps a $120 price target and a Buy rating on Western Digital.
06/27/17
AGIS
06/27/17
NO CHANGE
Target $130
AGIS
Buy
SSD ASP rises may have been 'meaningful' to Western Digital beat, says Aegis
After Western Digital positively pre-announced better than expected June quarter preliminary EPS, Aegis analyst Ananda Baruah said he believes ongoing increases in SSD average selling prices may have been a meaningful contributor to the beat. Western Digital's annual EPS run-rate over the last three quarters is now about $10.50 ahead of the vast majority of the expected $2.00-$3.00 minimum of SanDisk synergies and ahead of any contribution from Toshiba's memory business sale, which Baruah thinks could be an incremental $2.00-$5.00 regardless of sale outcome, he tells investors. The analyst keeps a Buy rating and $130 price target on Western Digital shares.
07/17/17
COWN
07/17/17
NO CHANGE
Target $117
COWN
Outperform
Western Digital successful bid for Toshiba unit would be accretive, says Cowen
Cowen analyst Karl Ackerman noted Western Digital (WDC) won three court victories in its case against Toshiba (TOSBF), which he sees strengthening its position to acquire the remaining 50% of its memory division. The analyst believes a successful bid would yield 10-15% accretion to earnings in 2018 and drive a higher multiple for Western Digital shares. Ackerman reiterated his Outperform rating and $117 price target on Western Digital.

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