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Citi upgrades Seagate (STX +0.6%) and Western Digital (WDC +0.2%) to Neutral, and in doing so...

Citi upgrades Seagate (STX +0.6%) and Western Digital (WDC +0.2%) to Neutral, and in doing so lets the hard drive makers avoid the general selloff taking place in PC-exposed names following Microsoft's FQ4 miss, which was accompanied by poor Windows OEM sales figures and guidance. Citi downgraded STX and WDC to Sell on Oct. 12, 2012; they've had a good run since.
Comments (4)
  • physdude
    , contributor
    Comments (122) | Send Message
     
    Why would anyone trust their rating after the last one turned out so spectacularly pear shaped??
    19 Jul 2013, 11:22 AM Reply Like
  • uncledace
    , contributor
    Comments (128) | Send Message
     
    It is up 66% since they said it was a Sell. Yeah I'm really going to trust what they think.

     

    Long STX
    19 Jul 2013, 11:34 AM Reply Like
  • twhite113
    , contributor
    Comments (436) | Send Message
     
    As a STX long, I am glad Citi didn't upgrade to a buy, but merely a neutral. There was a movie when I was a child that reminds me of their calls: "The Gang that Couldn't Shoot Straight".
    19 Jul 2013, 12:01 PM Reply Like
  • ejjoseph
    , contributor
    Comment (1) | Send Message
     
    I remember the days when Shearson Lehman was around. A friend who worked there told me that when they wanted to get an important client into a stock, they would recommend a sell on that stock....and when they had to get them out, they would recommend a buy. Don't trust anything these clowns say. Track the analyst by name, not by company and do your own homework. Many analysts are independent and some of them get it right.
    19 Jul 2013, 01:39 PM Reply Like
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