Raymond James downgraded Western Digital to Market Perform from Outperform without a price target. The analyst cites valuation for the downgrade. The shares are now discounting a “reasonable recovery” in the markets for both the hard disk drives and NAND memory chips, the analyst tells investors in a research note. The firm’s sum-of-the-parts analysis shows less than 10% upside potential for Western Digital at current stock levels.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% 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:
- Western Digital price target raised to $83 from $73 at Morgan Stanley
- Western Digital price target raised to $85 from $75 at BofA
- Western Digital price target raised to $83 from $68 at Susquehanna
- Unusually active option classes on open April 9th
- Western Digital price target raised to $80 from $66 at Mizuho