Western Digital price target raised to $350 from $285 at UBS

UBS analyst Timothy Arcuri raised the firm’s price target on Western Digital (WDC) to $350 from $285 and keeps a Neutral rating on the shares. Western Digital is expected to report results near the top end of guidance for Q3, with strong sequential growth driven by higher ASPs and healthy hyperscaler demand, and further improvement in Q4 supported by continued pricing gains and margin expansion, the analyst tells investors in a research note. While near-term fundamentals remain solid and supported by capacity and demand dynamics, the view remains that HDD stocks are still cyclical, with a longer-term downcycle pushed to at least late 2028 despite the current market treating the sector as more structurally stable than memory, the firm says.

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