Western Digital valuation is dramatically underappreciated, say Brean Capital Brean Capital believes the valuation of Western Digital remains dramatically underappreciated citing its operational improvements which should continue to drive margins as well as the potential pickup in Enterprise drives. Shares are Buy rated with a $125 price target.
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.