Information Provided By:
Fly News Breaks for January 8, 2020
WDC
Jan 8, 2020 | 07:09 EDT
BofA analyst Wamsi Mohan raised his price target for Western Digital to $75 from $65 saying NAND price trends are improving. The analyst reiterates a Buy rating on the shares. Recent checks indicate that some equipment in the cleanroom at Kioxia's NAND Flash production facility at Fab 6 caught fire that has since been extinguished on Jan 7, Mohan tells investors in a research note. The analyst views this as "incrementally supportive" of improving price trends in NAND. Further, recent conversations with investors suggest that the bear case worries on both China capacity ramps longer term and Samsung ramp in near term are abating, adds the analyst.