Western Digital shares rise after co gives guidance

Western Digital

17/01/2025 17:10

** Western Digital  WDC.O  shares are up 2.3% in midday trading
Fri after the co gave guidance on its Q2 results
    ** The broader mkt was also higher on Fri
    ** Western Digital late Thurs said it expected Q2 rev at the
mid-point of $4.20 bln to $4.40 bln range; the consensus view
for rev was $4.24 bln, according to LSEG
    ** It also said it expected Q2 non-GAAP EPS at the lower end
of a $1.75/$2.05 range; the consensus view for EPS was $1.82
    ** Following the news, BofA Global Research raised its price
target on the stock to $84 from $80, while Barclays cut its
price target to $80 from $90
    ** Western Digital is expected to release its Q2 results
Jan. 29
    ** The median PT on the stock is $85, based on LSEG data;
the stock was last at $65.72
    ** Analyst recommendations on the stock include 19 "strong
buy" or "buy" ratings, eight "hold" ratings and no "sell" or
"strong sell" ratings
    ** Including the session move, the stock just over 10% YTD
while the Nasdaq  .IXIC  is up about 1.7% 



 (Reporting by Caroline Valetkevitch)
 ((caroline.valetkevitch@thomsonreuters.com))