Bernstein Doubles Western Digital Price Target to $340 with Outperform Rating
Bernstein upgraded Western Digital from Market Perform to Outperform and raised its 12-month price target to $340 from $170. This significant revision underscores analysts’ renewed confidence in the company’s storage demand outlook and margin recovery potential.
1. Bernstein Upgrade Details
Bernstein shifted Western Digital’s rating from Market Perform to Outperform and doubled its price target from $170 to $340. The firm cited stronger-than-expected storage market dynamics and potential margin expansion as drivers behind the bullish revision.
2. Implications for Investors
The upgrade signals growing analyst confidence in Western Digital’s ability to capitalize on enterprise and data center storage demand. Investors will be watching upcoming earnings and guidance for confirmation of this renewed positive outlook.