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Fly News Breaks for January 31, 2020
WDC
Jan 31, 2020 | 08:38 EDT
BTIG analyst Edward Parker raised his price target on Western Digital to $80 and kept his Buy rating after its in-line Q2 results and better than expected guidance, which "proves" the supply-demand recovery narrative in NAND memory. The analyst further cites the management's forecast of accelerating flash gross margins and "solid" fundamentals in its HDD business, noting that the improving end-market demand is "nicely synched" with the company's product positioning.
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