Mizuho analyst Vijay Rakesh raised the firm’s price target on Western Digital to $55 from $52 and keeps a Buy rating on the shares. The analyst continues to see “positive constructive tailwinds” for memory driving an upcycle into 2024 for both DRAM and NAND. The firm believes supply cuts will sustain with lower capex wafer starts below demand and demand will be better with PC and handsets.
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