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WDC

Western Digital

$40.02

0.2 (0.50%)

, TER

Teradyne

$32.33

0.19 (0.59%)

08:31
01/14/19
01/14
08:31
01/14/19
08:31

Western Digital downgraded to Underperform from In Line at Evercore ISI

As previously reported, Evercore ISI analyst C.J. Muse downgraded Western Digital (WDC) to Underperform from In Line and lowered his price target for shares to $30 from $35. In a research note to investors, Muse says that while he maintains his positive secular view for Semi demand long-term, he believes the market is not fully appreciating the negative consequences to the company from NAND weakness, as well as its structural competitive issues. He sees the stock trading lower as estimates move lower and investors come to realize that the dividend is at risk, adding that the current competitive positioning is "not ideal" as he estimates Western Digital's SSD share has roughly halved in the last few years to about 12%. The analyst also downgraded Teradyne (TER) to In Line from Outperform.

WDC

Western Digital

$40.02

0.2 (0.50%)

TER

Teradyne

$32.33

0.19 (0.59%)

  • 24

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    May

WDC Western Digital
$40.02

0.2 (0.50%)

12/13/18
DBAB
12/13/18
INITIATION
Target $45
DBAB
Hold
Western Digital resumed with a Hold at Deutsche Bank
Deutsche Bank analyst Sidney Ho resumed coverage of Western Digital with a Hold rating and $45 price target. The analyst sees "cloudy" near-term fundamentals for the hard disk drive industry.
12/13/18
DBAB
12/13/18
INITIATION
DBAB
Seagate, Western Digital resumed with Hold ratings at Deutsche Bank
Deutsche Bank analyst Sidney Ho resumed coverage of both Seagate Technology (STX) and Western Digital (WDC) with Hold ratings, and price targets of $42 and $45, respectively. The analyst said in a note partially titled "Cloudy near term, Cloud is also the future" that while hard disk drive, or HDD, is a mature industry, several interesting trends have emerged. First, nearline HDDs that are suited for mass storage in cloud data centers could drive 60%+ of the industry revenue by 2022 with above industry average margins. Second, technology innovations in the next 5-10 years could continue to drive cost improvements in the HDD industry. Third, while declining NAND flash memory prices have led to rising adoption of solid state drives, or SSDs, the cannibalization focuses on PCs and mission-critical enterprise applications, while nearline HDDs appear to be more immune. The analyst concluded that "while HDD revenues appear to be on a slow decline, changing mix will likely drive better profitability."
01/02/19
BNCH
01/02/19
NO CHANGE
BNCH
Hold
Western Digital FY19 estimates lowered at Benchmark on falling NAND prices
Benchmark analyst Mark Miller lowered his FY19 estimates for Western Digital due to declining NAND prices, which he expects to persist during the first half of 2019. While he believes the decline in Western's shares in the past six months factors in the ongoing price declines, he still only projects a 5% year-over-year bottom line gain and keeps a Hold rating on the stock.
01/14/19
EVER
01/14/19
DOWNGRADE
EVER
Underperform
Western Digital downgraded to Underperform from In Line at Evercore ISI
TER Teradyne
$32.33

0.19 (0.59%)

12/21/18
BARD
12/21/18
DOWNGRADE
BARD
Neutral
Teradyne downgraded to Neutral from Outperform at Baird
12/21/18
BARD
12/21/18
DOWNGRADE
Target $39
BARD
Neutral
Teradyne downgraded to Neutral at Baird
As reported previously, Baird analyst Richard Eastman downgraded Teradyne to Neutral from Outperform. The analyst sees a moderating sales/profit growth environment through calendar year 2020. He also cited risk to its elevated valuation as near-term sentiment indicators, deceleration in key international economic regions, hawkish monetary policy, and trade protectionism accelerate a recession sentiment. Eastman lowered his price target to $39 from $44 on Teradyne shares.
12/21/18
12/21/18
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Facebook (FB) downgraded to Sell from Hold at DZ Bank. 2. TrueCar (TRUE) downgraded to Neutral from Buy at BTIG with analyst Marvin Fong saying factors outside of the company's control have "increased the degree of difficulty" for 2019. 3. Altria Group (MO) downgraded to Sell from Neutral at Citi with analyst Adam Spielman saying Altria's $12.8B investment for a 35% stake in Juul "is destroying value" but admits it is impossible to be sure because Altria has not revealed any financial details, "despite the scale of the investment." 4. Greif (GEF) downgraded to Market Perform from Outperform at Wells Fargo and to Underperform from Market Perform at BMO Capital. 5. Teradyne (TER) downgraded to Neutral from Outperform at Baird with analyst Richard Eastman saying he sees a moderating sales/profit growth environment through calendar year 2020. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/14/19
EVER
01/14/19
DOWNGRADE
EVER
In Line
Teradyne downgraded to In Line from Outperform at Evercore ISI

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LLESY

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EFSC

Enterprise Financial

$41.41

0.99 (2.45%)

17:56
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FB

Facebook

$150.01

1.77 (1.19%)

16:36
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Periodicals
Facebook planning to add 1,000 jobs in Ireland by year-end, Reuters says »

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FB

Facebook

$150.01

1.77 (1.19%)

16:33
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Periodicals
Facebook's WhatsApp limits users to five text forwards, Reuters reports »

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ENB

Enbridge

$36.10

0.425 (1.19%)

16:28
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Periodicals
Enbridge gas pipeline explosion creates fireball in Ohio, Reuters says »

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LIN

Linde plc

$160.76

3.48 (2.21%)

16:25
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16:25
Periodicals
Linde Plc to launch $6B share buyback scheme, Reuters says »

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  • 28

    May

HENKY

Henkel

$0.00

(0.00%)

16:01
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16:01
Downgrade
Henkel rating change at Goldman Sachs »

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CAG

Conagra Brands

$21.58

0.34 (1.60%)

14:06
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Hot Stocks
Conagra exploring alternatives for Italian-based frozen pasta business »

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  • 22

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13:15
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General news
IMF trimmed global growth amid "no-deal" Brexit and trade war concerns »

IMF trimmed global growth…

UQM

UQM Technologies

$1.10

0.05 (4.76%)

13:05
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Hot Stocks
UQM Technologies acquired by Danfoss Power Solutions for $1.71 per share »

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SNY

Sanofi

$41.50

-0.54 (-1.28%)

12:37
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Hot Stocks
Sanofi granted U.K. marketing authorization for TIV High Dose »

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RTN

Raytheon

$165.11

2.285 (1.40%)

12:33
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Raytheon awarded $24.36M order for F/A-18 aircraft system repair »

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IBCP

Independent Bank

$22.80

-0.11 (-0.48%)

11:26
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Hot Stocks
Independent Bank boosts quarterly dividend by 20% to 18c »

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  • 29

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11:25
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General news
FX Update: The dollar majors have been directionally challenged »

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EDIT

Editas Medicine

$26.16

-0.01 (-0.04%)

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Editas Medicine announces publication of EDIT-101 data in Nature Medicine »

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GOOG

Alphabet

$1,098.25

6.96 (0.64%)

, GOOGL

Alphabet Class A

$1,106.92

7.52 (0.68%)

11:23
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GOOG

Alphabet

$1,098.25

6.96 (0.64%)

GOOGL

Alphabet Class A

$1,106.92

7.52 (0.68%)

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LAD

Lithia Motors

$87.13

1.57 (1.84%)

10:25
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Conference/Events
Lithia Motors to host special shareholder meeting »

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CYDY

CytoDyn

$0.00

(0.00%)

10:25
01/21/19
01/21
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Conference/Events
CytoDyn participates in lunch meeting with Philadelphia Securities »

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  • 21

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ABT

Abbott

$71.43

0.9 (1.28%)

09:50
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Hot Stocks
Abbott announces FDA approval of TactiCath Contact Force Ablation Catheter »

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SFUN

Fang Holdings

$1.88

-0.01 (-0.53%)

09:48
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Fang announces management changes, proposed China Index spin-off »

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TS

Tenaris

$24.32

0.64 (2.70%)

09:45
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Hot Stocks
Tenaris closes acquisition of 47.79% of Saudi Steel Pipe shares »

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PAAS

Pan American Silver

$14.17

-0.31 (-2.14%)

09:42
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CRWS

Crown Crafts

$5.68

(0.00%)

09:38
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Crown Crafts announces retirement of NoJo Baby & Kids CEO »

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