Vetr Crowd Says Buy Western Digital, In Spite Of A Couple Of Bearish Outliers

Shares of Western Digital Corp WDC are down more than 15 percent year-to-date. However, most of the ground was lost before mid-May. Since May 16, the stock has recuperated more than 43 percent of its value, leading some top raters at the Vetr community to believe the rebound will continue. In fact, the most recent ratings imply some upside from current valuations even though the average price target does not reflect it.

Consequently, the Vetr community upgraded the stock from 3.0 Stars (Hold) to 3.5 Stars (Buy) - out of a possible 5.0 Stars rating.

Related Link: Here's How Crowdsourced Ratings Can Beat The Market

Having said this, a couple more things should be noted. The crowd’s average price target of $50.42, which implies a 1.2 percent downside potential, was driven down by two bearish outliers. Most raters believe the stock will continue to surge.

In addition, 83 percent of the crowd’s ratings are bullish right now.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above