Goldman Sachs analyst James Schneider raised the firm’s price target on Western Digital (WDC) to $250 from $220 and keeps a Neutral rating on the shares after its Innovation Day. The management announced several new products and highlighted its product innovation across ePMR and HAMR solutions, the analyst tells investors in a research note. Based on the management’s articulated product roadmap, the annualized drive capacity increases could average up to 30%-40% per year, the firm added.
Claim 55% Off TipRanks
Trade WDC with leveragePublished 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 $250 from $220 at Goldman Sachs
- Western Digital sees revenue growth of over 20% over next 3-5 years
- Western Digital price target raised to $300 from $180 at Argus
- Intel memory ambitions ‘back in the spotlight,’ TrendForce News says
- Western Digital announces additional $4B share repurchase program