Rosenblatt upgraded Western Digital to Buy from Neutral with a price target of $115, up from $65. The analyst cites strengthening NAND flash prices for the upgrade. Industry data points suggest Q2 NAND Flash average contract prices will increase by 15% sequentially from the combination of increasing demand, low inventories, and disciplined capacity controls, the analyst tells investors in a research note. The firm continues to view NAND Flash demand as price elastic.
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 call volume above normal and directionally bullish
- Early notable gainers among liquid option names on April 1st
- Unusually active option classes on open March 28th
- Western Digital initiated with an Outperform at Evercore ISI
- Early notable gainers among liquid option names on March 26th