Seeking Alpha

Seagate, Western Digital upgraded to Buy by Citi

  • Citi's Joo Yoo has upgraded Seagate (STX -0.3%) and Western Digital (WDC +1.3%) to Buy, while respectively raising his PTs to $62 and $100.
  • Echoing recent Intel upgrades, Yoo expects Seagate and Western improving/stabilizing PC demand. He also sees the hard drive giants to getting a boost from sales to cloud infrastructure services firms; Western is targeting these companies (and others) with its new helium drives.
  • Yoo downgraded Seagate and Western to Sell in Oct. '12, and upgraded them to Neutral in July. Shares have had a pretty good run over the last 14 months.
  • STX +1.6% premarket.
Comments (1)
  • OneWayTraffic
    , contributor
    Comments (7) | Send Message
     
    So following his advice would be selling at about $20 and buying at about $50?
    13 Dec 2013, 02:21 PM Reply Like
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