Western Digital: “Nuclear Fallout” From Toshiba’s Chip Unit Sale – Barron’s

Shares of Western Digital (WDC) continued to feel the pain from Toshiba’s (6502.JP/TOSYY) $17.8 billion deal to sell its flash memory chip business to a consortium led by Bain Capital that includes rival Seagate Technology (STX).

The shares are down 3.8% today to $83.13 a share after Baird analyst Tristan Gerra downgraded the stock to a Neutral from an Outperform and slashed its target price from $120 a share to $93 a share, describing what he called the “nuclear fallout potential” on Western Digital, which relies on joint…

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