Western Digital price target raised to $135 from $90 at Wedbush

Wedbush raised the firm’s price target on Western Digital (WDC) to $135 from $90 and keeps an Outperform rating on the shares. The firm believes Western’s nearline units likely modestly exceeded its estimates with its checks suggesting the company had a bit more flexibility to lift production vs its peers. Wedbush sees its ASP as likely conservative in light of lifting demand and limitations around industry drive supply. On this front, Western Digital t should also benefit from its leadership in hybrid SMR capacities and shipments, which should allow it to mix up better than the industry.

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