Western Digital price target raised to $46 from $42 at UBS

UBS analyst Timothy Arcuri raised the firm’s price target on Western Digital to $46 from $42 and keeps a Neutral rating on the shares. Western Digital’s quarterly results were at the high end of guidance and the company announced plans to split the business, but the firm says it is hard to value each segment without more color on the capitalization plan, but finds it hard to argue that this split suddenly creates a significant amount of value, the analyst tells investors in a research note.