Morgan Stanley raised the firm’s price target on Western Digital to $86 from $83 and keeps an Overweight rating on the shares. After exceeding initial Q1 gross margin guidance by 6 points, the company “again seems to have guided conservatively” for the June-end quarter and the firm sees “material upside” to its guidance, the analyst tells investors in a post-earnings note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WDC:
- Cisco downgraded, Lucid resumed: Wall Street’s top analyst calls
- Raymond James downgrades Western Digital with recovery priced in
- Western Digital price target raised to $80 from $70 at Barclays
- Western Digital downgraded to Market Perform from Outperform at Raymond James
- Western Digital price target raised to $83 from $73 at Morgan Stanley
