Bank of America raised its price target for Western Digital Corporation (WDC) to $375 from $345, reiterating a Buy rating after meetings with management. This update reflects increased confidence in the company’s ability to achieve long-term financial targets and its plans to divest approximately $3.17 billion in SanDisk holdings to strengthen its balance sheet. Western Digital aims to optimize its capital structure and capitalize on the cyclical recovery in storage demand.
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BofA Boosts Western Digital Corporation (WDC) Target to $375 Following Strategic Outlook Update
Bank of America raised its price target for Western Digital Corporation (WDC) to $375 from $345, reiterating a Buy rating after meetings with management. This update reflects increased confidence in the company’s ability to achieve long-term financial targets and its plans to divest approximately $3.17 billion in SanDisk holdings to strengthen its balance sheet. Western Digital aims to optimize its capital structure and capitalize on the cyclical recovery in storage demand.