Morgan Stanley raised the firm’s price target on Western Digital to $83 from $73 and keeps an Overweight rating on the shares. Both the firm’s checks and media reports point to a material uplift in storage demand related to AI, mostly in solid-state drives, but in hard disk drives as well, the analyst tells investors. Western Digital remains the analyst’s top pick in semis, with near-term catalysts, intermediate term catalysts like a separation of the HDD and NAND business, and long-term catalysts, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WDC:
- Western Digital price target raised to $85 from $75 at BofA
- Western Digital price target raised to $83 from $68 at Susquehanna
- Unusually active option classes on open April 9th
- Western Digital price target raised to $80 from $66 at Mizuho
- Western Digital price target raised to $100 from $70 at Cantor Fitzgerald