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.
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