Western Digital’s Stock (NASDAQ:WDC) Named Top Pick: Price Target Moves Higher
Western Digital’s stock (NASDAQ:WDC) has been coming under increased attention from analysts, most notably from Morgan Stanley, leading to significant adjustments in its stock price targets and ratings. The latest upgrade designates Western Digital as Morgan Stanley’s Top Pick, replacing Seagate (STX) within its coverage.
The stock is currently trading at $86.88, up more than 80% YTD having gained 4.99% during yesterday’s trading session.
Morgan Stanley’s analyst, Erik Woodring, raised the firm’s price target on Western Digital to $99 from $92, reiterating an Overweight rating. This decision follows meetings with CFO Kris Sennaesal and CEO Irving Tan, where the firm gained increased confidence in Western Digital’s technology roadmap….
