Western Digital price target raised to $660 from $500 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Western Digital (WDC) to $660 from $500 and keeps an Overweight rating on the shares. Western Digital delivered a strong beat-and-raise driven by pricing strength, robust data center demand, and improving cost structure, supporting higher long-term margin and earnings assumptions, while ongoing HAMR progress and structurally stronger HDD demand underpin a more bullish multi-year outlook and a higher valuation framework, the analyst tells investors in a research note.

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