Western Digital (WDC) stock was on the rise Thursday after the data storage device manufacturing company received updated coverage from Wall Street analysts.
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.
Let’s dig into the latest coverage of WDC stock:
- Five-star Loop Capital Markets analyst Ananda Baruah reiterated a Buy rating and increased his price target to $150 from $92, representing a potential 16.88% upside for WDC stock.
- Five-star Wedbush analyst Matt Bryson maintained a Buy rating and raised his price target to $135 from $90, suggesting a possible 5.19% upside for WDC shares.
Baruah provided several reasons for the increased price target for Western Digital in a note to clients. He pointed to the company’s materially accretive economic dynamics and mentioned that these are still in the early stages. Additionally, the analyst said Western Digital had “cracked open” the earnings multiple re-rating conversation, while also experiencing acceleration in its HDD economic accretion.
Western Digital Stock Movement Today
Western Digital stock was up 6.98% on Thursday, extending a 186.84% rally year-to-date. The company’s shares have also increased 78.83% over the past 12 months. Western Digital has benefited from the increased demand for server components tied to the artificial intelligence (AI) boom. The company offers a large variety of computer storage options that AI server rack builders can use to hold data and information for large language models (LLMs) and other applications.
Investors will also note that Western Digital is about to report its Fiscal Q1 2026 earnings. This report is set to be released after markets close on October 30, 2025.
Is Western Digital Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Western Digital is Strong Buy, based on 16 Buy and four Hold ratings over the past three months. With that comes an average WDC stock price target of $116.90, representing a potential 9.51% downside for the shares.
