Mizuho cuts Western Digital stock price target on anticipated NAND softness By Investing.com
On Thursday, Mizuho (NYSE:) Securities adjusted its outlook on Western Digital Corp (NASDAQ:) shares by reducing the price target from $90.00 to $82.00, yet reaffirmed an Outperform rating on the stock.
“We are modestly lowering WDC 1H estimates with NAND softness commentary from WDC and post MU earnings,” the firm said.
The research firm noted that Western Digital has completed its Form 10 filing, which is a significant step toward the anticipated late January 2025 timeline for the potential spinoff of the company.
According to Mizuho, there are several outcomes to consider from the spinoff. First, they project that a standalone Western Digital HDD business could be valued at $75 per share, or approximately $27 billion, marking a…
