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Western Digital, Seagate Up On Positive Analyst Comments

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Disk drive makers Western Digital (NASDAQ: WDC) and Seagate Technology PLC (NASDAQ: STX) each saw a boost Tuesday from positive analyst comments.

Seagate has traded up almost four percent to $59.05, while Western Digital is up over three percent to $95.11.

Also in the sector, EMC (NASDAQ: EMC) has gained 1.4 percent to $26.72 per share.

When Western Digital releases fourth-quarter earnings July 30, Brean Capital reportedly expects earnings of up to $1.90 per share. Wall Street currently expects $1.71 and the company has forecast a range of $1.65 to $1.75.

For Western's fiscal first quarter, Brean predicts profits of $2.15 a share, versus the consensus calling for $2.06.

Brean maintains a Buy rating and $70 target for Seagate, as well as the same rating and a $125 target for Western Digital.

Wall Street expects Seagate to post earnings of $1.09, but Brean sees $1.16. Seagate beat estimates for the prior quarter by 6.3 percent. Seagate is expected to release earnings on July 23.

Latest Ratings for WDC

DateFirmActionFromTo
Jun 2016JP MorganAssumesNeutral
Jun 2016Maxim GroupUpgradesNeutralBuy
Jun 2016Goldman SachsReinstatesNeutral

View More Analyst Ratings for WDC
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Posted-In: Brean CapitalAnalyst Color Analyst Ratings

 

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