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TOSBF

Toshiba, also use TOSYY

$2.51

-0.0301 (-1.19%)

, TOSYY

Toshiba, also use TOSBF

$14.98

-0.321 (-2.10%)

06:46
12/01/17
12/01
06:46
12/01/17
06:46

Toshiba, Western Digital nearing deal over chip unit sale, Reuters reports

Toshiba (TOSBF, TOSYY) and Western Digital (WDC) are nearing a deal to settle a legal dispute that has become a potential impediment to Toshiba's plan to sell its $18B semiconductor business to a consortium led by Bain Capital, Reuters reports, citing the media. Western Digital, Toshiba's joint venture partner, has argued that no deal can progress without its consent but reports have said that the two parties since have agreed to work towards a settlement and the U.S. firm is mulling dropping its efforts to block the deal in exchange for an extension to the joint venture agreements. Reference Link

TOSBF

Toshiba, also use TOSYY

$2.51

-0.0301 (-1.19%)

TOSYY

Toshiba, also use TOSBF

$14.98

-0.321 (-2.10%)

WDC

Western Digital

$78.86

-2.14 (-2.64%)

  • 04

    Dec

TOSBF Toshiba, also use TOSYY
$2.51

-0.0301 (-1.19%)

10/03/17
LEHM
10/03/17
NO CHANGE
Target $131
LEHM
Overweight
Western Digital could win injunctive relief against Toshiba, says Barclays
Toshiba (TOSYY) could fail to close its sale of Toshiba Memory Corporation to a Bain-led consortium due to contractual-based consent rights that are in place, Barclays analyst Mark Moskowitz tells investors in a research note titled "Don't Head for the Exit; WD Has Legal & Regulatory Support in Its Corner." After reviewing the Flash Ventures joint venture agreements between Toshiba Memory and Western Digital's (WDC) SanDisk, the analyst sees legal and regulatory hurdles to the proposed transaction. Moskowitz believes SanDisk could file for and win injunctive relief, ultimately forcing Toshiba to reconsider a deal favorable to Western Digital. The analyst keeps an Overweight rating on Western Digital shares with a $131 price target.
10/13/17
COWN
10/13/17
NO CHANGE
Target $117
COWN
Outperform
Fab 6 resolution paramount to Western Digital's strategy, says Cowen
Cowen analyst Karl Ackerman said a resolution with Toshiba (TOSBF) over Fab 6 remains paramount to Western Digital's (WDC) NAND tech road map and he has confidence bargaining chips are still on the table. He believes the company's NAND business continues to be under-modeled by the Street. Ackerman has an Outperform rating and $117 price target on Western Digital shares.
10/24/17
BMOC
10/24/17
NO CHANGE
Target $40
BMOC
Market Perform
Seagate price target raised to $40 from $35 at BMO Capital
BMO Capital analyst Tim Long raised his price target on Seagate to $40 following better than expected earnings and above-consensus guidance. Long says performance was driven by strong PCs that offset weaker results in non-client compute HDDs. The analyst also notes that he is encouraged by Seagate's expected NAND supply agreement with Toshiba (TOSBF) as well as by the company's cost-cutting, but maintains a Market Perform rating until Seagate can show a clearer path toward growing its solid state business.
10/27/17
COWN
10/27/17
NO CHANGE
Target $117
COWN
Outperform
Cowen expects Western Digital/Toshiba settlement to be amicable
Cowen analyst Karl Ackerman noted Western Digital (WDC) reported better than expected Q1 results and provided increased guidance for both Q2 and Q3. He believes its dispute with Toshiba (TOSBF) will have an amicable resolution, which will anchor its roadmap beyond 2018. Ackerman reiterated his Outperform rating and $117 price target on Western Digital shares.
TOSYY Toshiba, also use TOSBF
$14.98

-0.321 (-2.10%)

10/05/17
DBAB
10/05/17
DOWNGRADE
Target $80
DBAB
Hold
Western Digital downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Sherri Scribner last night downgraded Western Digital (WDC) to Hold and cut her price target for the shares to $80 from $105. Uncertainty over the sale of Toshiba's (TOSYY) memory business as well as a peaking NAND cycle warrant a cautious view, Scribner tells investors in a research note. NAND market tightness will start to ease in 2018, suggesting a cycle peak is nearing, the analyst contends. She advises investors to take a "more cautious, wait-and-see approach" with respect to Western Digital shares.
WDC Western Digital
$78.86

-2.14 (-2.64%)

11/27/17
MSCO
11/27/17
DOWNGRADE
MSCO
Equal Weight
Western Digital downgraded to Equal Weight from Overweight at Morgan Stanley
11/27/17
MSCO
11/27/17
DOWNGRADE
Target $90
MSCO
Equal Weight
Morgan Stanley sees NAND peak approaching, cuts Western Digital to Equal Weight
As previously reported, Morgan Stanley analyst Katy Huberty downgraded Western Digital to Equal Weight from Overweight, as she believes the NAND industry is entering a downturn for the first time since early 2016. Huberty sees NAND supply growth outpacing demand in the first half of 2018 after undersupply for nearly two years and predicts NAND prices will fall 7%-15% quarterly beginning in the first quarter of next year. The analyst, who lowered her FY19 EPS estimate for Western Digital to reflect NAND oversupply and weaker prices, cut her price target on the stock to $90 from $117.
11/27/17
11/27/17
NO CHANGE
Target $55

Overweight
Micron should be bought on any NAND-related weakness, says Morgan Stanley
Morgan Stanley analyst Joseph Moore noted that the firm has previously been bullish on memory, without the need to differentiate between NAND and DRAM, but it is now going to be important to increasingly differentiate between DRAM, which the firm expects to remain strong, and NAND, which the firm views as facing pricing declines next year. The analyst said he would buy Micron (MU) on any weakness related to NAND, pointing out that only one third of Micron's sales are in NAND. Moore raised his EPS estimates for Micron and increased his price target on the stock to $55 from $39 while colleague Katy Huberty downgraded Western Digital (WDC) to Equal Weight from Overweight this morning, as previously reported.
11/27/17
11/27/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Square (SQ) downgraded to Sell from Neutral at BTIG with analyst Mark Palmer saying he believes the stock's valuation reflects "emphatic and unimpeded growth" but fails to factor in the risks facing the company from increasing competition from First Data's (FDC) Clover, Vantiv (VNTV) and others. 2. Western Digital (WDC) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Katy Huberty saying she believes the NAND industry is entering a downturn for the first time since early 2016. 3. Norfolk Southern (NSC) downgraded to Sell from Hold at Loop Capital with analyst Rick Paterson saying the company's operating efficiency metrics "look like a bit of a disaster at present." 4. TSMC (TSM) and Himax (HIMX) were downgraded to Equal Weight from Overweight at Morgan Stanley. 5. Buffalo Wild Wings (BWLD) downgraded to Neutral from Buy at UBS with analyst Dennis Geiger saying the risk/reward is more balanced following the recent share rally. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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General news
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LPSN

LivePerson

$11.05

-0.05 (-0.45%)

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  • 13

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HUSKF

Husky Energy

$12.42

-0.1177 (-0.94%)

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COP

ConocoPhillips

$51.68

-0.28 (-0.54%)

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  • 13

    Dec

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    Dec

SAFM

Sanderson Farms

$167.64

0.64 (0.38%)

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  • 14

    Dec

DB

Deutsche Bank

$19.33

-0.05 (-0.26%)

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T

AT&T

$38.04

-0.06 (-0.16%)

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AT&T and Communications Workers of America reach tentative agreement »

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BMY

Bristol-Myers

$63.47

0.19 (0.30%)

18:33
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Bristol-Myers granted exclusive license by Ono Pharma to develop ONO-4578 »

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  • 18

    Jan

  • 05

    Mar

WFC

Wells Fargo

$59.40

-0.93 (-1.54%)

18:15
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Hot Stocks
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  • 15

    Jan

HBAN

Huntington Bancshares

$14.58

-0.23 (-1.55%)

18:10
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Hot Stocks
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ASB

Associated Banc-Corp

$25.10

-0.2 (-0.79%)

18:06
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18:06
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Hot Stocks
Breaking Hot Stocks news story on Associated Banc-Corp »

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UBS

UBS

$17.90

0.035 (0.20%)

18:05
12/13/17
12/13
18:05
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18:05
Periodicals
UBS Wealth Management president Zeltner close to stepping down, Bloomberg says »

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PFE

Pfizer

$36.64

0.06 (0.16%)

18:03
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Hot Stocks
Pfizer announces FDA approves IXIFI, a biosimilar to Remicade »

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  • 04

    Jan

CNP

CenterPoint Energy

$28.40

0.02 (0.07%)

18:03
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Hot Stocks
CenterPoint Energy raises quarterly dividend 4% to 27.75c per share »

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MDXG

MiMedx

$11.99

-0.26 (-2.12%)

18:03
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Recommendations
MiMedx analyst commentary at Piper Jaffray »

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  • 13

    Dec

CE

Celanese

$108.31

1.34 (1.25%)

18:01
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Celanese raises acetyl intermediates products prices »

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WAL

Western Alliance

$57.30

-1.25 (-2.13%)

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USB

U.S. Bancorp

$54.60

-0.9 (-1.62%)

18:01
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  • 17

    Jan

WBS

Webster Financial

$56.16

-0.73 (-1.28%)

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  • 14

    Dec

HSBC

HSBC

$51.44

0.89 (1.76%)

17:56
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WTR

Aqua America

$37.59

0.32 (0.86%)

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  • 17

    Jan

MSFT

Microsoft

$85.35

-0.23 (-0.27%)

17:38
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  • 18

    Jan

TCF

TCF Financial

$20.24

-0.16 (-0.78%)

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CMA

Comerica

$84.81

-1.06 (-1.23%)

17:34
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  • 16

    Jan

CMCM

Cheetah Mobile

$11.18

-0.02 (-0.18%)

17:33
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