BofA raised the firm’s price target on Western Digital (WDC) to $197 from $170 and keeps a Buy rating on the shares. After having hosted an investor meeting with CFO Kris Sennesael, the firm walked away incrementally bullish on the stock, citing the view that HDD demand will remain greater than supply for the foreseeable future; the company’s technology roadmap gives optionality to deliver strong exabyte growth; and strong execution is driving costs lower.
Claim 55% Off TipRanks
Forget margin or options. Here's how the pros trade WDCPublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WDC:
- Positive Outlook for Western Digital: Buy Rating Supported by Strong Demand, Technological Advancements, and Operational Excellence
- Early notable gainers among liquid option names on November 17th
- Elliott buys PepsiCo, exits Western Digital in Q3
- Early notable gainers among liquid option names on November 14th
- MU, NVDA, PLTR, AMD: Are AI Stocks Set for Another Breakout?