Western Digital price target raised to $230 from $145 at UBS

UBS raised the firm’s price target on Western Digital (WDC) to $230 from $145. The December quarter is expected in line with guidance, with the March quarter slightly above the Street, supported by strong gross margins but limited near-term revenue upside due to constrained drive capacity, the analyst tells investors in a research note. Western Digital is likely to highlight fully booked capacity through 2027, with potential narrative shifts if external head sourcing adds incremental capacity, the firm says, adding that a down cycle is still modeled starting in early 2028, though timing may be pushed back.