Fly News Breaks for January 17, 2020
Jan 17, 2020 | 07:44 EDT
Wedbush analyst Matt Bryson upgraded Western Digital to Outperform from Neutral with a price target of $83, up from $55. In a research note to investors, Bryson says he believes NAND pricing is in the midst of a V-shaped recovery and that the impact of a NAND upcycle on forward earnings power supports continued stock appreciation. Given what he sees as Western Digital's future earnings power and the positive ramifications a strong earnings cycle will have for its balance sheet, even with shares up over 20% from mid-December levels, Bryson says he believes there is still meaningful further upside potential for the stock.
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