Western Digital price target raised to $220 from $165 at Goldman Sachs

Goldman Sachs analyst James Schneider raised the firm’s price target on Western Digital (WDC) to $220 from $165 and keeps a Neutral rating on the shares. Western Digital is expected to trade higher after a strong quarter and above-Street guidance, supported by elevated investor confidence, tight HDD supply, and strong hyperscaler demand, the analyst tells investors in a research note. Management’s accelerated HAMR technology rollout adds upside potential, reinforcing the company’s position as a key beneficiary of pricing and supply dynamics in the storage market, Goldman adds.