Standpoint Research Upgrades Western Digital Corp. (WDC) to Buy

Standpoint Research upgraded Western Digital Corp. (NYSE: WDC) from Hold to Buy with a $42 price target.

The firm states, "Western Digital is a name we have gone in-and-out of twice since 2009. We closed out the position with a 50% gain on April 29, 2009, and then closed it out a second time on March 30, 2011 with a 34% gain. This high-beta stock pulled back during the recent market correction and can be reinstated. There was good news from Hutchinson Tech yesterday that boosted the names in this industry. Our 2012-2013 price target for WDC is <11X $4.00 in earnings potential and <10X peak earnings from 2007-2008."



For more ratings news on Western Digital Corp. click here and for the rating history of Western Digital Corp. click here.

Shares of Western Digital Corp. closed at $35.36 yesterday.

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