Western Digital price target raised to $80 from $70 at Barclays

Barclays analyst Tom O’Malley raised the firm’s price target on Western Digital (WDC) to $80 from $70 and keeps an Overweight rating on the shares. The analyst highlights “significant” nearline share gains for Western Digital in Q4 and thinks this continues until there is more material HAMR production from Seagate (STX) The longer the delay, the more favorable the technology positioning for Western Digital, the analyst tells investors in a research note.