Western Digital price target raised to $49 from $41 at BofA

BofA analyst Wamsi Mohan raised the firm’s price target on Western Digital to $49 from $41 and keeps a Buy rating on the shares. The firm, which was “encouraged” to see some signs of demand stabilizing in some end markets, models revenue and margin growth starting in the December quarter and reiterates its Buy rating on “being close to the bottom of the cycle.”