Zacks Investment Research upgraded shares of Western Digital Corporation (WDC) from NEUTRAL to OUTPERFORM on January 17, 2014, with a target price of $107.00.
We have upgraded Western Digital shares to Outperform as we are encouraged by the company's business shift toward non-PC applications. The secular growth of digital data, modest growth in the TAM and higher demand for storage are expected to drive near-term results. Additionally, its growing exposure to the small and medium business space, synergies from acquisitions and product innovations remain growth drivers. We think that these factors more than offset the higher expenses, flat margins, stiff competition and sluggish macroeconomic environment that the company is up against.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
To get a free copy of the research report on Western Digital Corporation (WDC),
click here.
For more information about research offerings from Zacks Investment Research, visit
Zacks.com .
Be the first to comment