Western Digital results likely to be near high end of guidance, says RBC Capital RBC Capital expects Western Digital's results for its December quarter to be towards the high end of its guidance. The firm thinks the company has several positive catalysts, including improved notebook data points, a stable pricing environment, and growth in cloud deployments. The firm raised its price target on the stock to $92 from $78 and keeps an Outperform rating on the shares.
Western Digital upgraded to Buy from Neutral at BofA/Merrill BofA/Merrill upgraded Western Digital to Buy and maintained its $117 price target. The firm believes fundamentals have bottomed and valuation is attractive at current levels. BofA/Merrill lowered estimates on further PC weakness but said pricing is holding up and the mix shift to capacity HDDs is driving ASP and margin improvement.