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WDC

Western Digital

$51.86

0.04 (0.08%)

09:13
04/16/19
04/16
09:13
04/16/19
09:13

Deutsche sees favorable setup for Western Digital, upgrades shares to Buy

Deutsche Bank analyst Sidney Ho last night upgraded Western Digital to Buy from Hold and raised his price target for the shares to $60 from $45. The analyst is starting to see favorable data points in both hard disk drive and NAND that will support a "solid" second half of the year recovery for Western Digital's earnings. While the company's near-term earnings have downside risk due to weaker than expected NAND pricing, supply cuts across the NAND industry, along with a reacceleration of HDD demand, will likely lead to a stronger recovery off a lower base in the first half of 2019, Ho told investors in a research note. He expects management to highlight improved visibility on the upcoming earnings call, which he believes will be a positive catalyst for the shares. As such, Ho sees a favorable for Western Digital into the earnings print.

  • 29

    Apr

WDC Western Digital
$51.86

0.04 (0.08%)

04/15/19
DBAB
04/15/19
UPGRADE
DBAB
Buy
Western Digital upgraded to Buy from Hold at Deutsche Bank
04/15/19
04/15/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Disney (DIS) upgraded to Neutral from Sell at BTIG with analyst Richard Greenfield saying the rating change was prompted more by the commentary from CEO Bob Iger on CNBC than by the company's investor day presentation unveiling Disney+. 2. Western Digital (WDC) upgraded to Buy from Neutral at Longbow with analyst Nikolay Todorov saying NAND fundamentals are bottoming and "there is a line of sight to cyclical recovery." 3. Dow Inc. (DOW), Huntsman (HUN), LyondellBasell (LYB), and Eastman Chemical (EMN) upgraded to Buy from Neutral at Nomura Instinet, while Olin (OLN) and Westlake Chemical (WLK) were upgraded to Neutral from Reduce. 4. Waste Management (WM) upgraded to Buy from Hold at Stifel with analyst Michael Hoffman saying even with potential divestitures to get the deal approved, adding Advanced Disposal "dramatically lowers" Waste Management's cost of capital, reduces capital spending, converts more of the fleet to CNG, and stimulates tuck-in activity that should all drive sustainable free cash flow growth. 5. Sony (SNE) upgraded to Buy from Hold at Jefferies. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/15/19
LBOW
04/15/19
UPGRADE
Target $65
LBOW
Buy
Longbow upgrades Western Digital with NAND recovery in 'line of sight'
Longbow Research analyst Nikolay Todorov upgraded Western Digital to Buy from Neutral with a $65 price target. The stock closed Friday up $1.00 to $51.83. NAND fundamentals are bottoming and "there is a line of sight to cyclical recovery," Todorov tells investors in a research note. The analyst believes NAND production is likely to be further rationalized with industry profitability under pressure and points out that pricing has recently shown signs of stabilization. Further, a hard drive revenue and gross margin recovery in the second half of 2019 does not appear to be fully contemplated by the Street, says Todorov. He sees an "asymmetric risk/reward" for Western Digital shares at current levels.
04/15/19
LBOW
04/15/19
UPGRADE
LBOW
Buy
Western Digital upgraded to Buy from Neutral at Longbow

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HAS

Hasbro

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2.84 (2.83%)

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LRCX

Lam Research

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0.56 (0.29%)

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

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MSFT

Microsoft

$125.00

-0.5 (-0.40%)

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VBIV

VBI Vaccines

$2.00

(0.00%)

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UBSI

United Bankshares

$38.81

0.03 (0.08%)

07:53
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Earnings
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HBAN

Huntington Bancshares

$13.75

-0.04 (-0.29%)

07:53
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APC

Anadarko

$71.41

7.29 (11.37%)

, OXY

Occidental Petroleum

$62.00

-0.35 (-0.56%)

07:52
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04/25
07:52
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07:52
Downgrade
Anadarko, Occidental Petroleum, Chevron rating change at Jefferies »

Jefferies downgrades…

APC

Anadarko

$71.41

7.29 (11.37%)

OXY

Occidental Petroleum

$62.00

-0.35 (-0.56%)

CVX

Chevron

$118.31

-3.69 (-3.02%)

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MTSI

Macom

$15.86

-0.33 (-2.04%)

07:51
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07:51
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Macom rating change  »

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ABBV

AbbVie

$78.71

0.06 (0.08%)

07:49
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APC

Anadarko

$71.41

7.29 (11.37%)

, OXY

Occidental Petroleum

$62.00

-0.35 (-0.56%)

07:48
04/25/19
04/25
07:48
04/25/19
07:48
Recommendations
Anadarko, Occidental Petroleum, Chevron analyst commentary at Morgan Stanley »

Strategic value of…

APC

Anadarko

$71.41

7.29 (11.37%)

OXY

Occidental Petroleum

$62.00

-0.35 (-0.56%)

CVX

Chevron

$118.31

-3.69 (-3.02%)

03/08/13
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PTC

PTC

$101.94

1.12 (1.11%)

07:48
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NXGN

NextGen Healthcare

$17.65

0.38 (2.20%)

07:47
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NextGen Healthcare rating change  »

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  • 05

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ABBV

AbbVie

$78.71

0.06 (0.08%)

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ABBV

AbbVie

$78.71

0.06 (0.08%)

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AZPN

Aspen Technology

$114.55

2.435 (2.17%)

07:45
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  • 05

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07:45
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XLNX

Xilinx

$139.79

2.66 (1.94%)

07:44
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Xilinx rating change at Needham »

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  • 14

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CIGI

Colliers International

$69.14

-0.39 (-0.56%)

07:44
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ABBV

AbbVie

$78.71

0.06 (0.08%)

07:43
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HAS

Hasbro

$103.18

2.84 (2.83%)

07:42
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07:42
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Hasbro rating change at Argus »

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WAB

Wabtec

$76.57

-0.19 (-0.25%)

, GE

General Electric

$9.32

-0.025 (-0.27%)

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GE

General Electric

$9.32

-0.025 (-0.27%)

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ABBV

AbbVie

$78.71

0.06 (0.08%)

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