Western Digital price target adjusted to $58 at BofA after SanDisk spinoff

BofA analyst Wamsi Mohan adjusted the firm’s price target on Western Digital (WDC) to $58 and keeps a Buy rating on the shares after adjusting the firm’s model to reflect the spinoff of the SanDisk (SNDK) flash business. The firm now estimates FY25 revenue and EPS at $9.3B and $4.52, compared to $16.6B and $6.09, respectively, pre-spin. BofA notes its Western price target was $82 pre-spin.