BofA raised the firm’s price target on Western Digital (WDC) to $141 from $123 and keeps a Buy rating on the shares. The firm, which notes that it recently raised its calendar 2025 hard disk drive exabyte shipment forecast to 1.6 petabytes, now raises its Seagate (STX) and Western Digital estimates further as resilient pricing in the HDD industry indicates further upside to EPS estimates. The firm believes demand from AI and limited supply of exabytes will be somewhat supportive to prices through calendar 2028 as supply increases are limited to increases in areal density, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% 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 price target raised to $160 from $85 at Cantor Fitzgerald
- Western Digital price target raised to $120 from $87 at Mizuho
- SMCI, AAPL, or DELL: Bernstein Picks the Top AI Hardware Stocks
- Apple initiated, Hershey upgraded: Wall Street’s top analyst calls
- Seagate price target raised to $250 from $165 at Benchmark