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Technology Stocks : WDC, NAND, NVM, enterprise storage systems, etc.
SNDK 223.28+3.8%Nov 28 9:30 AM EST
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To: SiliconAlley who wrote (3230)11/27/2017 9:49:05 AM
From: dan.rosengold7 Recommendations

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08:24 Western Digital rating change at Morgan Stanley Morgan Stanley sees NAND peak approaching, cuts Western Digital to Equal Weight. As previously reported, Morgan Stanley analyst Katy Huberty downgraded Western Digital to Equal Weight from Overweight, as she believes the NAND industry is entering a downturn for the first time since early 2016. Huberty sees NAND supply growth outpacing demand in the first half of 2018 after undersupply for nearly two years and predicts NAND prices will fall 7%-15% quarterly beginning in the first quarter of next year. The analyst, who lowered her FY19 EPS estimate for Western Digital to reflect NAND oversupply and weaker prices, cut her price target on the stock to $90 from $117.

Micron, Western Digital analyst commentary Micron should be bought on any NAND-related weakness, says Morgan Stanley. Morgan Stanley analyst Joseph Moore noted that the firm has previously been bullish on memory, without the need to differentiate between NAND and DRAM, but it is now going to be important to increasingly differentiate between DRAM, which the firm expects to remain strong, and NAND, which the firm views as facing pricing declines next year. The analyst said he would buy Micron (MU) on any weakness related to NAND, pointing out that only one third of Micron's sales are in NAND. Moore raised his EPS estimates for Micron and increased his price target on the stock to $55 from $39 while colleague Katy Huberty downgraded Western Digital (WDC) to Equal Weight from Overweight this morning, as previously reported.
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