Western Digital price target raised to $260 from $180 at Wells Fargo

Wells Fargo analyst Aaron Rakers raised the firm’s price target on Western Digital (WDC) to $260 from $180 and keeps an Overweight rating on the shares. The firm has updated its bottom-up Semi industry model and reviewed key themes ahead. Wells would highlight Industrial and Electrical leading AI indicators, AI token-driven supply / demand model, and WFE die-to-wafer models.