Barclays analyst Tom O’Malley raised the firm’s price target on Western Digital to $45 from $40 and keeps an Equal Weight rating on the shares. The company announced intention to spin off its flash asset in the second half of 224, but more importantly is seeing improving end markets with an inflecting gross margin profile, the analyst tells investors in a research note.
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>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on WDC:
- Western Digital files to sell $1.3B in convertible senior notes due 2028
- Western Digital upgraded to Buy at Summit Insights after Q1 report
- Early notable gainers among liquid option names on October 30th
- Western Digital (NASDAQ:WDC) Soars on Plan to Split into Two Entities
- Western Digital upgraded to Buy from Hold at Summit Insights