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Thursday, May 23
Deutsche Bank's Sherri Scribner (who likes the HDD space) upgrades Seagate Technology (STX) to...
Deutsche Bank's Sherri Scribner (who likes the HDD space) upgrades Seagate Technology (STX) to Buy from Hold and raises the price target on it ($46 from $40) and shares of Western Digital (WDC). She says outperformance stemming from "the impact of the Thailand floods, which reset pricing and profitability higher" and industry consolidation will continue to benefit the two companies which Jim Chanos recently called value traps (STX is his favorite short). Meanwhile, SA contributor Sneha Shah also likes the industry consolidation thesis. (See also: Lazard's PT boost for WDC) STX +.85% premarket.