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WDC

Western Digital

$48.50

0.6 (1.25%)

09:21
07/08/19
07/08
09:21
07/08/19
09:21

Loop Capital sees Western Digital constrained by inventory despite Japan outage

Loop Capital analyst Ananda Baruah kept his Hold rating and $45 price target on Western Digital, saying that despite the outages at the Yokkaichi, Japan production facilities, there is still too much NAND and Flash inventory throughout the industry ecosystem to drive a positive impact on pricing. The analyst adds that although Western Digital's average selling prices and gross margins will benefit, he sees the Street consensus accounting for the potential upside.

WDC Western Digital
$48.50

0.6 (1.25%)

07/01/19
MZHO
07/01/19
UPGRADE
Target $55
MZHO
Buy
Mizuho upgrades Western Digital to Buy on Trump's 'truce' with China
Mizuho analyst Vijay Rakesh upgraded Western Digital (WDC) to Buy from Neutral and raised his price target for the shares to $55 from $47. The analyst believes the Huawei ban has been a "major overhang" for handset radio frequency suppliers Qorvo (QRVO) and Skyworks (SWKS), and memory suppliers like Western Digital. The "truce" over the weekend between President Trump and Chinese President Xi Jinping sets up improving visibility, a rebound in orders and upside to "depressed expectations" for the Huawei-exposed semi suppliers in the second half of 2019, Rakesh tells investors in a research note. For Western Digital, the analyst sees an improved demand outlook with 50M-70M additional Huawei handsets into the second half of the year.
07/01/19
07/01/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Anaplan (PLAN) upgraded to Buy from Neutral at Goldman Sachs with analyst Heather Bellini saying the company's deal sizes are growing and the pace of its expansions are increasing as sales productivity improves. 2. Six Flags (SIX) upgraded to Overweight from Sector Weight at KeyBanc with analyst Brett Andress citing an improving near-term setup, led by his Key First Look data supporting above-consensus attendance trends for Q2, meaningfully easier Q3 weather compares, and a de-risked international scenario, all against what he believes is a rock-bottom level of sentiment around the name. 3. Western Digital (WDC) upgraded to Buy from Neutral at Mizuho with analyst Vijay Rakesh saying he believes the Huawei ban has been a "major overhang" for handset radio frequency suppliers Qorvo (QRVO) and Skyworks (SWKS), and memory suppliers like Western Digital. 4. Valvoline (VVV) upgraded to Buy from Neutral at Buckingham. 5. United Therapeutics (UTHR) upgraded to Outperform from Neutral at Credit Suisse with analyst Martin Auster saying he sees downside as limited with multiple attributes that could support near-term stabilization/rebound, including potential for less aggressive generic uptake, greater recognition of steady Tyvaso/Orenitram cash flows with potential for strong Tyvaso tail value, ralinepag's potential best-in-class profile, potential for share buybacks, and potential for activism/M&A. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/02/19
BNCH
07/02/19
DOWNGRADE
Target $40
BNCH
Sell
Western Digital downgraded to Sell from Hold at Benchmark
Benchmark analyst Mark Miller downgraded Western Digital to Sell from Hold to Sell with a price target of $40, stating that he believes any short-term price increases likely won't be enough to offset an expected 50% decline in NAND output during Q1 caused by the Yokaichi power outage. While he sees reasons for optimism, he thinks pricing assumptions are "more than fully" factored into the stock at current levels, Miller added.
07/03/19
LBOW
07/03/19
NO CHANGE
Target $55
LBOW
Buy
Western Digital second half estimates raised at Longbow
Longbow analyst Nikolay Todorov noted that InSpectrum reported that Q2 NAND contract prices declined 12% quarter-over-quarter, in-line with the forecast for a low double-digit decline in his survey done in early June. However, given recent NAND supply reductions, he has raised his NAND price forecasts for the second half of the calendar year and consequently raised his estimates for Western Digital. Given the higher estimates, Todorov increased his price target on Western Digital shares to $55 from $49 and keeps a Buy rating on the stock.

TODAY'S FREE FLY STORIES

BHVN

Biohaven Pharmaceutical

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Celanese

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F

Ford

$10.20

-0.06 (-0.58%)

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RTN

Raytheon

$178.55

2.45 (1.39%)

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UTX

United Technologies

$132.37

1.08 (0.82%)

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LMT

Lockheed Martin

$356.90

0.675 (0.19%)

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  • 23

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ARES

Ares Management

$28.13

-0.305 (-1.07%)

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HAFC

Hanmi Financial

$21.68

-0.105 (-0.48%)

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  • 23

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PAYS

Paysign

$17.49

-0.48 (-2.67%)

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MEOH

Methanex

$43.19

0.83 (1.96%)

17:28
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  • 01

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17:17
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Conference/Events
Credit Suisse biotech analysts to hold an analyst/industry conference call »

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SHIP

Seanergy Marine

$0.64

-0.0425 (-6.25%)

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SONM

Sonim

$13.42

0.24 (1.82%)

16:41
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Conference/Events
Sonim management to meet with Oppenheimer »

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KINS

Kingstone Companies

$8.81

0.09 (1.03%)

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  • 07

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Options
Preliminary option volume of 22.6M today »

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BA

Boeing

$377.34

16.17 (4.48%)

, MSFT

Microsoft

$136.62

0.33 (0.24%)

16:24
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On The Fly
Fly Intel: Wall Street's top stories for Friday »

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BA

Boeing

$377.34

16.17 (4.48%)

MSFT

Microsoft

$136.62

0.33 (0.24%)

AMZN

Amazon.com

$1,964.78

-13.57 (-0.69%)

AAPL

Apple

$202.62

-3.02 (-1.47%)

WMT

Walmart

$113.91

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DIS

Disney

$139.86

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GCI

Gannett

$9.43

1.53 (19.37%)

CRWD

Crowdstrike

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10.75 (14.78%)

SKX

Skechers

$39.00

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PACB

Pacific Biosciences

$5.34

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ILMN

Illumina

$293.10

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CHWY

Chewy

$30.70

-2.09 (-6.37%)

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VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
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Options
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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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NASDAQ market internals summary »

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BCBP

BCB Bancorp

$12.71

-0.09 (-0.70%)

16:17
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Earnings
BCB Bancorp reports Q2 EPS 30c, consensus 30c »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
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Technical Analysis
NYSE market internals summary »

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CNXM

CNX Midstream Partners

$14.30

-0.205 (-1.41%)

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  • 30

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TELL

Tellurian

$7.25

0.22 (3.13%)

16:16
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16:15
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General news
Breaking General news story  »

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ROKU

Roku

$106.83

-2.18 (-2.00%)

16:13
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Conference/Events
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