Western Digital price target raised to $42 from $35 at UBS

UBS analyst Timothy Arcuri raised the firm’s price target on Western Digital to $42 from $35 and keeps a Neutral rating on the shares. The company’s Q4 results should be in line but pricing in NAND continues to be challenging, which makes additional inventory write-downs possible, the analyst tells investors in a research note. The firm is also “generally more optimistic” about how long it will take supply and demand to rebalance.