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Fly News Breaks for February 3, 2020
WDC
Feb 3, 2020 | 09:14 EDT
Argus analyst Jim Kelleher raised his price target on Western Digital to $82 and kept his Buy rating after its Q2 earnings beat and above-consensus guidance for Q3. The analyst expects the swing to positive annual comparisons to start in the current quarter. Kelleher also adds that while he is not making any assumptions regarding the impact of the coronavirus, which can have negative consequences for the company's end markets, prior viral outbreaks had been "contained without meaningful long-term damage to global technology trade."
News For WDC From the Last 2 Days
WDC
Oct 19, 2020 | 16:32 EDT
The major averages were searching for direction in early trading after House Speaker Nancy Pelosi said over the weekend that she has informed the White House that it has until Tuesday to reach an agreement with Democrats or it is highly unlikely that a stimulus deal will be reached before the election. Treasury Secretary Steven... To see the rest of the story go to thefly.com. See Story Here
WDC
Oct 19, 2020 | 15:22 EDT
Lynx analysts KC Rajkumar and Jahanara Nissar note that NAND stocks jumped following The Wall Street Journal's article on a potential sale of Intel's (INTC) NAND business to SK Hynix, which should come as "no surprise." Owners of Western Digital (WDC) and Micron (MU) shares have reason to cheer the Journal story, they contend, as the impact to Western Digital/Micron with SK Hynix as the acquirer is "manageable" due to muted capex at SY Hynix. While the analysts think the move up in Western Digital and Micron is justified, they acknowledge that some profit-taking too is likely as the NAND market continues to be weak. Additionally, Rajkumar and Nissar believe suppliers continue to have lack of visibility to timeline of demand recovery and price stabilization.