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Western Digital price target raised to $100 from $65 at Baird

Baird raised the firm’s price target on Western Digital to $100 from $65 and keeps an Outperform rating on the shares. The firm said in addition to a return to sustainability in HDD fundamentals notably from a gross margin standpoint, emerging from over a decade of overcapacity in the HDD industry, Western Digital is poised to benefit from incremental SSD demand around training and inference, in addition to AI driving HDD capacity needs medium-term.

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