WDC Western Digital: Caris notes WDC results positive for MRVL (22.41 ) -Update-
Caris retains their Above Average rating and increases their tgt to $27 from $25 on WDC following its report last night that it will post stronger-than-expected results for FQ1 (Sept.). It now expects its WDC acquisition to be accretive in FQ4 08. Firm notes WDC's strong Sept quarter result is a positive for MRVL since WDC is MRVL's largest customer. Note that their checks for MRVL's two largest customers -- Samsung and Toshiba -- are positive for CQ3 as well. Since WDC has a tight relationship with DELL, WDC's strong result is a positive for DELL as well. As noted above, they now est that WDC's HDD units grew 20% Q/Q.
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