RBC Capital Increases Western Digital Corp. Price Target to $100.00 (WDC)
Equities researchers at RBC Capital upped their target price on shares of Western Digital Corp. (NYSE:WDC) from $98.00 to $100.00 in a research report issued on Tuesday. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price indicates a potential upside of 4.46% from the stock’s previous close.
Western Digital Corp. (NYSE:WDC) opened at 95.73 on Tuesday. Western Digital Corp. has a 1-year low of $59.36 and a 1-year high of $96.67. The stock has a 50-day moving average of $90.23 and a 200-day moving average of $87.54. The company has a market cap of $22.503 billion and a P/E ratio of 22.56.
Western Digital Corp. (NYSE:WDC) last released its earnings data on Wednesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.87 by $0.07. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.73 billion. On average, analysts predict that Western Digital Corp. will post $8.00 earnings per share for the current fiscal year.
A number of other firms have also recently commented on WDC. Analysts at Needham & Company LLC raised their price target on shares of Western Digital Corp. from $100.00 to $110.00 in a research note on Monday. They now have a “strong-buy” rating on the stock. Separately, analysts at Rhino Trading initiated coverage on shares of Western Digital Corp. in a research note on Monday, June 16th. They set a “buy” rating and a $110.00 price target on the stock. Finally, analysts at Barclays upgraded shares of Western Digital Corp. from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, May 14th. They now have a $98.00 price target on the stock, up previously from $95.00. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $99.63.
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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