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.
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