Analysts on Western Digital Corp. following Q2 FY22 results. Deutsche Bank analyst Sidney Ho lowered the price target to $70 from $81 (40 percent upside) and kept a Buy. The company’s guidance was once again below Street estimates, but it remains positioned for a second-half recovery. The analyst believes the stock’s risk/reward is attractive. Citi analyst Jim Suva reduced the price target to $75 from $80 (50 percent upside) and kept a Buy. The analyst says the company’s good December results will be overshadowed by the disappointing outlook where sales are 4 percent and earnings 15 percent below consensus. The next catalyst for the stock will be the new CFO strategy communications, which hopefully gains investor credibility. Barclaysanalyst Tom O’Malley lowered the price target to $60 from $65 (20 percent upside) and kept an Equal Weight. The company announced a material reset on gross margin as component issues and pricing weighs across hard disk drives …
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