Morgan Stanley raised the firm’s price target on Western Digital (WDC) to $99 from $92 and keeps an Overweight rating on the shares, which the analyst now designates as Top Pick in its space, replacing Seagate (STX). Following meetings with CFO Kris Sennaesal, as well as conversations with CEO Irving Tan last week at Western Digital’s Headquarters, the firm “gained much more comfort” in the company’s technology roadmap and believes the market’s view that the company is an at-risk technology “laggard” is misplaced, the analyst tells investors. HDD’s “remain the most attractive end-market within our hardware coverage,” the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WDC:
- Western Digital: Top Pick Status Backed by Strong HDD Market Position and Technological Advancements
- Analysts and Technical Indicators Agree: These 3 Stocks Are “Strong Buys” – 8/20/2025
- Western Digital’s Strong Market Position and Growth Potential Drive Buy Rating
- Western Digital price target raised to $90 from $65 at Argus
- Western Digital price target raised to $87 from $75 at Mizuho