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Western Digital upgraded to Buy at Benchmark after ‘major upside results’

As previously reported, Benchmark upgraded Western Digital to Buy from Hold with an $85 price target. Western Digital produced “major upside results” driven by improving flash pricing and nearline drive sales, notes the analyst, who sees continued improvements in NAND pricing and nearline sales as 2024 progresses. The firm now projects FY25 non-GAAP EPS of $6.84 on sales of $16.5B, noted the analyst.

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