This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Western Digital Shares Jump Following Goldman Sachs Upgrade

5/28/15 4:40 PM EDT
Shares of data storage company Western Digital (WDC) ended Thursday's trading day up 5 percent, making it TheStreet's Move of the Day. Goldman Sachs upgraded the stock to BUY from NEUTRAL and raised its price target to $122 from $106. 'We believe concerns over the impact of weak PCs on Western Digital are overdone,' wrote analyst Bill Shope in a report. TheStreet's Jim Cramer, portfolio manager of Action Alerts PLUS said on CNBC Thursday morning that shares of Seagate Technology (STX) and Western Digital' are going to fly' amid the upgrade of Western Digital from Goldman. 'These stocks are going to fly,' Cramer said. 'One, because they're heavily shorted, because people say PCs are going away, and this is the disk drives that go into PCs. But secondly, Goldman is saying they're too cheap. They could be leveraged buyouts.' Meanwhile the analysts at RBC Capital Markets maintain an 'outperform' rating on Western Digital, while Stifel and Jefferies hold a 'buy' rating on the stock. Shares of Western Digital have fallen 10.4 percent since the start of the year, while Seagate's stock has dropped roughly 15 percent year-to-date. TheStreet's Scott Gamm reports from New York.
Stocks in this video: WDCGSSTX
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV

Brokerage Partners

Top Rated Stocks Top Rated Funds Top Rated ETFs