Western Digital Corp. Downgraded to Sector Perform at FBN Securities (WDC)
Western Digital Corp. (NASDAQ:WDC) was downgraded by research analysts at FBN Securities from an “outperform” rating to a “sector perform” rating in a report released on Friday, Stock Ratings News reports. They currently have a $75.00 price target on the stock, up from their previous price target of $70.00. FBN Securities’ target price indicates a potential upside of 3.26% from the stock’s previous close.
Shares of Western Digital Corp. (NASDAQ:WDC) traded up 2.96% during mid-day trading on Friday, hitting $72.63. The stock had a trading volume of 3,249,933 shares. Western Digital Corp. has a 52-week low of $32.25 and a 52-week high of $70.61. The stock has a 50-day moving average of $64.9 and a 200-day moving average of $59.29. The company has a market cap of $17.213 billion and a price-to-earnings ratio of 17.72.
A number of other analysts have also recently weighed in on WDC. Analysts at Barclays raised their price target on shares of Western Digital Corp. from $65.00 to $75.00 in a research note to investors on Friday. They now have an “equal weight” rating on the stock. Separately, analysts at Needham & Company raised their price target on shares of Western Digital Corp. from $77.00 to $81.00 in a research note to investors on Wednesday. They now have a “strong-buy” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of Western Digital Corp. from $72.00 to $78.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $74.83.
Western Digital Corporation (NASDAQ:WDC) is a provider of solutions for the collection, storage, management, protection and use of digital content, including audio and video.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.