Western Digital upgraded to Buy from Hold at Craig-Hallum Craig-Hallum upgraded Western Digital based on signs of stabilization in the PC market, substantial free cash flow generation that could be used to return cash to shareholders or make acquisitions,and HGST cost synergies and operations rationalization. Price target raised to $100 from $70.
Western Digital shares offer attractive entry point, says Jefferies Jefferies analyst James Kisner believes current share levels provide an attractive entry point into Western Digital. The analyst views consensus earnings expectations as achievable and believes the current valuation does not price in potential upside from MOFCOM approval. He keeps a Buy rating on Western Digital with a $116 price target.