Western Digital (WDC) stock attracted fresh analyst attention after the data storage company delivered a strong quarterly earnings report driven by continued AI-related demand, prompting multiple Wall Street firms to raise their price targets on the shares.
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Following the earnings release late last month, analysts largely reiterated Buy ratings on Western Digital while lifting price targets to reflect improving demand trends and stronger pricing visibility across the storage market.
Citi analyst Asiya Merchant raised her price target on Western Digital to $500 from $405 while maintaining a Buy rating. Merchant said the company delivered a “beat and raise” quarter fueled by ongoing AI-based demand, adding that Citi increased its estimates based on improved demand and pricing visibility.
Additional analyst coverage of WDC stock included:
- Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating while boosting his price target to $550 from $470, representing a potential 19.83% upside.
- Bernstein analyst Mark Newman maintained a Buy rating and increased his price target to $590 from $340, implying a 28.54% upside.
- J.P. Morgan analyst Samik Chatterjee reiterated a Buy rating and raised his price target to $530 from $400, suggesting a 15.47% upside.
- Morgan Stanley analyst Erik Woodring maintained a Buy rating while lifting his price target to $488 from $380, representing a 6.32% upside.
What About the Best Analyst Covering WDC Stock?
Among the analysts covering Western Digital, Mizuho Securities analyst Vijay Rakesh stands out as the most accurate and profitable voice following the stock.
Over the past three months, Rakesh has delivered a 75% success rate with an average return of 36.25% per rating. His longer-term performance is even stronger, with a 90% success rate and a 185.39% average return over one year. Over the past two years, Rakesh has maintained a perfect 100% success rate with an average return of 411.98%.
How Did WDC Stock Move Today?
Western Digital stock was down 5.39% on Thursday, but was still up 165.39% year-to-date. The stock has also gained 990.53% over the past 12 months. Trading activity today saw some 3.23 million shares change hands, compared to a three-month average daily trading volume of about 8.06 million shares.
