Western Digital price target lowered to $40 from $72 at Susquehanna

Susquehanna lowered the firm’s price target on Western Digital (WDC) to $40 from $72 and keeps a Neutral rating on the shares. Susquehanna views the Hard Disk Drive as a low-growth industry, with the firm’s updated model implying ~7% revenue compound annual growth rate for Western Digital post-Sandisk, with execution on margin expansion as the key differentiating factor, the analyst tells investors in a research note.