Western Digital; Seagate remain dramatically undervalued, says RW Baird Baird believes both Western Digital (WDC) and Seagate (STX) remain dramatically undervalued from both industry gross margin growth expectations and EV/FCF perspectives. Both are rated Outperform with a $125 price target on Western Digital while Seagate has a $70 price target.
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Western Digital CFO Leyden to retire, Olivier Leonetti to succeed Western Digital (WDC) announced that CFO Tim Leyden is retiring. He is being succeeded by Olivier Leonetti, who has served as vice president, finance at Amgen (AMGN) from 2011. Leyden will remain with the company through January 2015 in a transition role and advisory capacity to president and chief executive officer Steve Milligan and to Leonetti for an interim period to ensure a smooth transition. The changes are effective as of September 8.