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WDC

Western Digital

$82.67

1.29 (1.59%)

09:01
01/04/18
01/04
09:01
01/04/18
09:01

Technical View: Western Digital slips lower, analyst action

The shares were last down over 1.2% to $81.67. At that price next support is at the $80 area. Resistance is at the prior session closing price of $82.67. As previously noted, BMO Capital downgraded the stock to Market Perform and sharply cut its price target from $120 to $85.

WDC Western Digital
$82.67

1.29 (1.59%)

01/04/18
BNCH
01/04/18
NO CHANGE
BNCH
Benchmark includes Alibaba, Activision among best ideas for first half
Benchmark analysts have complied their list of Best Ideas for the first half of 2018, which includes Axcelis (ACLS), Activision Blizzard (ATVI), Alibaba (BABA), BioTelemetry (BEAT), LivePerson (LPSN), Marvell (MRVL), NCR Corp. (NCR), Omnicell (OMCL), Pegasystems (PEGA), Quantenna (QTNA), Sinclair Broadcast (SBGI), Select Medical (SEM), STAAR Surgical (STAA) and Western Digital (WDC).
01/04/18
BMOC
01/04/18
DOWNGRADE
Target $85
BMOC
Market Perform
Western Digital cut to Market Perform at BMO Capital on balanced supply-demand
As reported earlier, BMO Capital analyst Tim Long downgraded Western Digital to Market Perform from Outperform and lowered his price target on the stock to $85 from $120. Long says the near-term fundamentals for the company remain healthy, but limited upside for growth in margins and revenue due to a more balanced supply-demand will keep the stock in a trading range. Long also anticipates hard disk drives to remain in decline with 7% less units sold this year in the industry, following a 6% drop last year. The analyst says his new price target is based on 6.5-times FY18 estimate valuation, in line with the recent trend of 6-to-8 times consensus.
01/04/18
BMOC
01/04/18
DOWNGRADE
BMOC
Market Perform
Western Digital downgraded to Market Perform from Outperform at BMO Capital
12/22/17
RBCM
12/22/17
NO CHANGE
Target $115
RBCM
Outperform
Western Digital risk-reward 'highly attractive,' says RBC Capital
RBC Capital analyst Amit Daryanani contends the risk-reward balance for Western Digital appears "highly attractive," as he believes pent-up demand and continued NAND cost reductions offset concerns about NAND oversupply and hard-disk drive cannibalization. The analyst, who sees room for the company to take out more costs, lower debt expenses and make increasingly attractive stock buybacks, keeps an Outperform rating on the stock.

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