Western Digital price target raised to $270 from $165 at Rosenblatt

Rosenblatt analyst Kevin Cassidy raised the firm’s price target on Western Digital (WDC) to $270 from $165 and keeps a Buy rating on the shares. The firm upped the company’s estimates citing increasing hard disk drive prices and demand. Western Digital’s build-to-order strategy continues to benefit from good visibility and limited inventory builds, the analyst tells investors in a research note. Rosenblatt sees upside to the company’s revenue and earnings estimates with a potential catalyst in HAMR technology drive approvals.