Wedbush notes that in the past two weeks Kioxia filed for an IPO and SanDisk released its 10-12B, telling investors that data from these filings gives better insight into the financials of SanDisk and WD post-split and how the separate companies might be valued. Valuing SanDisk as a standalone entity creates value and WD’s HDD business should be valued at about $20B-plus, yielding a total valuation for the combined parts of Western Digital (WDC) of at least $30B, argues the analyst, who reiterates an Outperform rating and $95 price target and contends that Western Digital “fully deserves its position on Wedbush’s Best Ideas List.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WDC:
- 3 Best Stocks to Buy Now, 11/26/2024, According to Top Analysts
- Western Digital Approves Incentive Plan and Elects Directors
- Kioxia IPO valuation positive for Western Digital, says Wells Fargo
- Elliott sold Marathon Petroleum during Q3, bought more Southwest
- Western Digital slips as Edgewater sees softer NAND/DRAM outlook in 2025