Mizuho Bumps Up Western Digital Price Target By 36% On Improving Demand Trends From Amazon, Google

November 23, 2021 6:27 AM | 1 min read

Mizuho analyst Vijay Rakesh upgraded Western Digital Corp WDC to Buy from Neutral with a price target of $75, up from $55, implying a 31.7% upside.
Recent checks indicate demand is improving across the PC, server, and handset markets, Rakesh notes.
The analyst believes server demand could improve in Q1 of 2022 with Amazon.com Inc AMZN and Alphabet Inc GOOG GOOGL Google orders returning despite less than ten weeks of DRAM inventory.
He sees improving demand trends and a "tailwind" for memory.
Western Digital is a vertically-integrated supplier of data storage solutions, spanning both hard disk drives (HDDs) and solid-state drives (SSDs).
Price Action: WDC shares traded higher by 2.39% at $58.29 in the premarket session on the last check Tuesday.