JPMorgan upgraded Western Digital (WDC) to Overweight from Neutral with a price target of $57, up from $45, after reinstating coverage following a period of restriction. Following the successful business separation of the NAND flash business in February, Western Digital is now a pure-play hard disk drive provider, the analyst tells investors in a research note. The firm says the company continues to see strong exabyte demand from its cloud and hyperscaler customers, providing “robust” visibility.
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