Cantor Fitzgerald Raises Western Digital Price Target to $500: Is the HDD Squeeze Just Getting Started?

Western Digital received meaningful analyst target increases, with Cantor Fitzgerald raising its price target to $500 from $420 while maintaining an Overweight rating and Bank of America lifting its target to $495 from $415 and keeping a Buy rating. The higher targets imply improved confidence in the company's fundamentals and valuation outlook. This is positive for sentiment, but the article is limited to analyst revisions rather than operating results or guidance.

Analysis

Western Digital received meaningful analyst target increases, with Cantor Fitzgerald raising its price target to $500 from $420 while maintaining an Overweight rating and Bank of America lifting its target to $495 from $415 and keeping a Buy rating. The higher targets imply improved confidence in the company's fundamentals and valuation outlook. This is positive for sentiment, but the article is limited to analyst revisions rather than operating results or guidance.