Western Digital (WDC) Receives a Buy from Deutsche Bank

In a report released today, Sidney Ho from Deutsche Bank maintained a Buy rating on Western Digital (WDC), with a price target of $60.00. The company’s shares closed last Monday at $43.12.

According to TipRanks.com, Ho is a 5-star analyst with an average return of 19.4% and a 55.4% success rate. Ho covers the Consumer Goods sector, focusing on stocks such as Smart Global Holdings, Applied Materials, and MKS Instruments.

Currently, the analyst consensus on Western Digital is a Strong Buy with an average price target of $77.12, representing an 82.1% upside. In a report issued on March 16, Citigroup also reiterated a Buy rating on the stock with a $60.00 price target.

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Based on Western Digital’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $4.23 billion and GAAP net loss of $139 million. In comparison, last year the company earned revenue of $4.23 billion and had a GAAP net loss of $487 million.

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Western Digital Corp. engages in the development, manufacture, market and sale of data storage devices and solutions. It operates through the following product categories: client devices, data center devices and solutions, and client solutions. The client devices category includes mobile, desktop, gaming and digital video hard drives, solid state drives (SSDs), embedded products, and wafers. The data center devices and solutions category covers capacity and performance enterprise hard disk drives (HDDs), enterprise SSDs, data center software, and system solutions. The client solutions category offers removable products, hard drive content solutions, and flash content solutions. The company was founded by Alvin B. Phillips in 1970 and is headquartered in San Jose, CA.

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