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Western Digital Corp. (NYSE:WDC)‘s stock had its “overweight” rating reaffirmed by stock analysts at Morgan Stanley in a report issued on Thursday, American Banking News reports. They currently have a $106.00 price target on the stock. Morgan Stanley’s price objective indicates a potential upside of 20.35% from the company’s current price.

The analysts wrote, “WD saw upside in notebooks (+6% Y/Y vs. -11% in C3Q) but lost share in desktop where the market is stable,” the report noted. “We see room for PC-related upside near-term given 1) low HDD and PC channel inventory levels and 2) cautious PC OEM outlooks despite the potential positive impact from Windows XP expiration, slowing desktop virtualization, slowing tablet growth, and improving economies.”

Western Digital Corp. (NYSE:WDC) traded down 1.32% during mid-day trading on Thursday, hitting $86.92. 1,130,039 shares of the company’s stock traded hands. Western Digital Corp. has a 52-week low of $44.44 and a 52-week high of $90.44. The stock has a 50-day moving average of $83.03 and a 200-day moving average of $71.35. The company has a market cap of $20.541 billion and a price-to-earnings ratio of 22.44.

Western Digital Corp. (NYSE:WDC) last released its earnings data on Wednesday, January 22nd. The company reported $2.19 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.07 by $0.12. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the prior year, the company posted $2.09 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. Analysts expect that Western Digital Corp. will post $8.11 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Craig Hallum upgraded shares of Western Digital Corp. from a “hold” rating to a “buy” rating in a research note to investors on Thursday. Separately, analysts at BMO Capital Markets upgraded shares of Western Digital Corp. from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday. They now have a $106.00 price target on the stock, up previously from $75.00. Finally, analysts at Zacks upgraded shares of Western Digital Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, January 17th. They now have a $107.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $96.56.

Western Digital Corporation (NYSE:WDC) is a provider of solutions for the collection, storage, management, protection and use of digital content, including audio and video.

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