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Technology Stocks : WDC, NAND, NVM, enterprise storage systems, etc.
SNDK 271.48+1.4%3:59 PM EST
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From: Sam1/17/2020 7:54:34 AM
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Western Digital +2% after target hike, upgrade
Jan. 17, 2020 7:45 AM ET|About: Western Digital Corporation (WDC)|By: Brandy Betz, SA News Editor


Wedbush upgrades Western Digital (NASDAQ: WDC) from Neutral to Outperform and raises the target from $55 to $83, citing optimism about improved NAND chip pricing.

The firm says that NAND chips are "in the midst of a V-shaped recovery," and it's "difficult now to project a scenario where pricing doesn’t increase through at least" Q3.

Wedbush regrets missing the chance to upgrade WDC in December when the firm first reported improving NAND dynamics.

Western Digital shares are up 2.1% pre-market to $70.10. The company has a Bullish average Sell Side rating.

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